5.6 billion loan from Arab Bank to finance rural electrification

Cameroon has obtained a loan from the Arab Bank for Economic Development in Africa (BADEA) in the amount of 5.6 billion CFA Francs. Decree of the President of the Republic signed last Wednesday, December 10, 2014 authorized the Minister of Economy, Planning and Regional Development, Emmanuel Nganou Djoumessi to sign the loan agreement to be used to finance the electrification in three rural regions.

This will be more of a project financed by the Arab Bank for African Development in Cameroon. BADEA had already granted such loans: 9 billion CFA Francs Shipyard and Industrial Cameroon, 7 billion for the construction of the Ayos-Abong Bang section 5 billion for the construction of Sangmélima-Djoum road, 4000000000 for Foumban-Tibati road.

According to Invest in Cameroon which reported figures from the Ministry of Economy, the Arab Bank for Economic Development in Africa (BADEA) had already funded projects worth 34.3 billion CFA Francs in Cameroon in April 2013.