Electricity development : Government engages on a new project
The government of Cameroon has, this Wednesday 7th March 2018, signed two loan agreements with la Societe General de France worth 108,65billion frs. The loan is expected to finance the stabilization and transportation of electricity and the extension of the road network in Douala.
The agreements were signed on behalf of Cameroon by the Minister of the Economy, Planning and Regional Development, Alamine Ousman Mey and the Director General of La Societe General de France by Philip Roch.
The event was witnessed by the French Ambassador to Cameroon and director of Commercial international de Bouygues Energies.
The government is poised to continue strides in ensuring growth in the energy sector. The country has gone a long way in the production of electrical energy and extending the transport network.
Societe General will finance the project to reinforce road network and the electricity network in Cameroon with an envelope of 108,65 billion frs in two phases
# purchase Credit , 9,188billionfrs cfa
# financial credit, 16,77billionfrs cfa
The convention signed is expected to;
# reinforce transportation of electricity
# ensure constant supply of electricity in Douala
# increase road transport capacity
# guarantee the viability of installations
It is also expected that government will create direct and indirect jobs during and after the execution of the projects.