AfDB to finance Lom-Pangar hydropower project in Cameroon
The African Development Bank (AfDB) has approved a $71.1m loan from African Development Fund’s resources to finance a hydropower project in Cameroon.
The Lom-Pangar hydroelectric project, which is expected to cost $419.2m, is jointly financed by five donors including the World Bank, the European Investment Bank, the Development Bank of Central African States and the French Development Agency.
AfDB energy sector director Hela Cheikhrouhou said Lom-Pangar is a clean and durable energy project which is crucial to the bank's long term vision and for Cameroon's 2011-2014 strategy.
AfDB said it has financed seven operations in the energy sector amounting to $252.5m since it commenced operation in Cameroon in 1972.