The Minister of the Economy, Alamine Ousmane Mey and the Country manager of the World Bank for Cameroon, Abdoulaye Seck have signed a credit agreement to the tune of $ 295 million to finance the Network Interconnection Project (RIS / RIN) of Cameroon and between Cameroon and Chad (PIRECT).
The Cameroon and Chad Electricity Network Interconnection Project (RISRIN) has the overall objective of increasing the rate of access to electricity in the two countries and generally contributing to the improvement of conditions. people's livelihoods and the fight against poverty.
Specifically, the project aims to Strengthen sub-regional cooperation and integration; Ensure universal access to electricity by 2035; Obtain an average price per kWh of between 30 and 40 FCFA in 2025; Ensure a valuation of 54% of the hydroelectric potential and at least 5% of the gas potential for the production of electricity and Optimize the use of energy resources in order to stimulate the achievement of the respective national development strategies of the two countries.
The direct beneficiaries of the project are SNE (Société Nationale d'Electricité) in Chad, SONATREL, AER and ENEO in Cameroon, which will operate the electricity transmission and distribution infrastructure in place, as well as the populations of localities bordering the built interconnection lines.
Speaking at the Signing ceremony the Minister of the Economy, Planning and Regional Development expressed his gratitude on behalf of government to the Director of Operations of the World Bank Abdoulaye Seck. He commended the multiple contributions the World bank has brought to Cameroon and expressed delight that the financing that the World Bank will provide is a real accelerator of the implementation of SND 30. He stated that Indeed, this is a strategic choice made by Cameroon in favor of the structural transformation of its economy which places the energy at the heart of national public policies.