Cameroon has signed a financing agreement with the Bank of China of 73.95 billion CFA francs (more than $ 126 million). These funds, granted in the form of loans, will be allocated to the second phase of the project to electrify 350 localities of the country thanks to photovoltaic solar installations, reports APA NEWS.
This project is part of a program launched in November 2016 and aimed at electrification thanks to the solar power of 1,000 localities in the country.
The implementation of its first phase required financing of 53 billion CFA francs (more than 90 million dollars) to which the Cameroonian government contributed 7 billion CFA francs. The remainder of the financing was lifted thanks to a buyer credit contracted with the Chinese company Huawei Technologies.
The rate of rural electrification in Cameroon is 25% for a national electrification rate of 48%.