Livestock, Electricity: Cameroon Secures Over FCFA 260 Bn Loans

The two separate loans from the World Bank will be used to carry out a livestock development project as well as the extension of electricity transmission lines in the country.

Cameroon has successfully obtained two separate loans worth over FCFA 260 billion from the World Bank. Two agreements to that effect were signed yesterday Wednesday June 7, 2017 in Yaounde. While the Minister of Economy, Planning and Regional Development, Lious Paul Motaze signed for Cameroon, the Director of Operations of the World Bank in Cameroon, Elisaberth Huybens penned for the Bretton Woods institution. The first loan worth FCFA 60 billion is destined to the financing of the Livestock Development Project (PRODEL) which will last 6 years. The second loan amounting to FCFA 202.3 billion will cover cost of the Project to Refurbish Electricity Transmission Networks and the Reform of the Sector (PRDTERS) and is expected to last 5 years.

Going by the Minister Motaze, focus was placed on livestock and electricity transmission because 29 per cent of some 71, 250km square of arable land in the country remains unexploited, while the unavailability of certain electricity transmission infrastructure is the principal cause of overload which compromises quality. Motaze said the PRODEL project which seeks to ameliorate l...