A loan agreement worth 97.8billion CFAF for the construction of the Nachtigal Bafoussam 400kv power transmission line and auxiliary facilities, has been signed today by the Minister of the Economy, Planning and Regional Development with the Export-Import Bank of India in Yaounde.

Signing on behalf of the Cameroon Government was the Minister of the Economy, Planning and Regional Development, while the Export-Import Bank of India was represented by its Regional Representative Selva Kumar. The financial package worth USD 164.69 million, that is about CFAF 97.8 billion is meant for the construction of the Nachtigal- Bafoussam 400KV power transmission line and auxiliary facilities. The financial resources mobilized will be used to facilitate the transmission of power generated from the Nachtigal hydroelectric dam to the major production basins of the Centre and West regions and nearby localities.

With this investment, the Government is strengthening the foundations for an integrated and competitive industrial development consistent and fully compatible with the potential of the area covered by this power line. The signing ceremony of this loan took place in the presence of High Commissioner of India to Cameroon and the Assistant General Manager of EXIMBANK INDIA Mrs MITALI PENDHARKAR.

The Minister of the Economy, Planning and Regional Development extends the people of Cameroon’s gratitude and the Head of State, His Excellency Paul BIYA’s appreciation to the dignitaries of India for their constant concern and their support to the development of Cameroon for shared prosperity.