The African Development Bank (AfDB), and other development finance institutions including the International Finance Corporation (IFC), the Netherlands Development Finance Company (FMO), the Development Bank of Central Africa (BDEAC), Proparco, and a syndication of local banks led by Standard Chartered Bank have signed a loan agreement to provide a EUR 198 million to the Kribi Power Development Company (KPDC).
AfDB is lending EUR 39.5 million to the Kribi Power Project. The project comprises the construction and operation of a 216 megawatt gas-fired power plant located in the north of the coastal city of Kribi, in the southern province of Cameroon with a 100 km 225 kV transmission line to be connected to the country’s Southern Interconnected Grid.
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