Business in Central Africa - Cameroon - The World Bank approved on 19 July, investment financing of 794.5 million (approximately FCFA 447,170 million) for the Nachtigal hydroelectric project (420 MW) in Cameroon.
This investment in clean energy, according to Elisabeth Huybens, the World Bank's director of operations for Cameroon, is essential to reduce the cost of electricity and ensure the competitiveness of Cameroon's economy.
" The Nachtigal project, one of the very rare public-private partnerships (PPPs) that have emerged in the hydropower sector in sub-Saharan Africa, will accelerate the achievement of Cameroon's development goals, including poverty reduction. "
Oumar Seydi, International Finance Corporation (IFC) regional director for Africa, said:
"The Nachtigal dam, on which IFC has been working for almost five years as co-promoter, is a great example of the effectiveness of the InfraVentures fund to realise this type of project in Africa.
Electricité de France (EDF) is participating with the Cameroonian government and IFC in the construction and operation of the hydroelectric power plant at Nachtigallocated on the Sanaga River, 65 km north-east of Yaoundé, the capital of the Cameroon.
This hydropower project, at a cost of about FRF 656 billion, will be commissioned (2020-2021), the dam will be one of the largest power producers in Cameroon.
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