ICBC pledges 50 billion FCFA loan for Menchum Hydroelectric Development Project
Pledged amount
$ 94874931.9113156
Adjusted pledged amount
$ 94874931.9113156
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Cameroon
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In 2015, the Industrial and Commercial Bank of China (ICBC) agreed to loan Cameroon's Ministry of Mining, Water, and Energy 50 billion FCFA for the Menchum Hydroelectric Development Project also called Menchum. PowerChina will construct the 72 MW hydroelectric dam which will increase the power supply in the northwest and western regions of Cameroon.
Additional details
According to IMF source, the loan is waiting for compliance report. The Chinese project title is 水电站建设工程.
Number of official sources
4
Number of total sources
7
Details
Cofinanced
No
Direct receiving agencies [Type]
Cameroon Ministry of Water Resources and Energy (MINEE) [Government Agency]
Implementing agencies [Type]
Government of Cameroon [Government Agency]
Power Construction Corporation of China (POWERCHINA) [State-owned Company]