Cameroon inks XAF10 bln funding agreement with the EU for rural electrification

Energy

Cameroon inks XAF10 bln funding agreement with the EU for rural electrification

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- Thursday, 28 November 2019 12:25

(Business in Cameroon) - On November 26, 2019, in Yaoundé, the Cameroonian government, signed, via the Ministry of Economy, a €16.15 million (a little over XAF10 billion) funding agreement with the European Union.

These funds will be used to partially finance the rural electrification and energy access’ improvement Project PERACE. This project is being implemented in six regions of Cameroon, namely the Far North, Adamaoua, the North, the East, South West, and North West.

Co-financed by the European Investment Bank and the World Bank, PERACE is the first phase of the Rural Electrification Master Plan developed by the Cameroonian government in 2016.

BRM

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