Promising days for livestock and electricity:

World Bank accords Cameroon 260bn for investments

By Numh Rogers

The MINEPAT, Louis Paul Motaze, exchanges books with WB Official

Cameroon’s livestock and energy sectors are set to experience a boost following the obtention of separate loans amounting to 260 billion CFA Francs from the World Bank to invest in livestock and energy. The agreements were signed in Yaounde on Wednesday June 2, 2017. Cameroon’s Minister of Economy, Planning and Regional Development Louis Paul Motaze signed for the government while the Director of Operations of the World Bank in Cameroon ElisaberthHuybens signed for the World Bank.

                The first loan of 60 billion CFA Francs will go to the livestock development project. The second which amounts to 200.3 billion CFA Francs will be used to boost Cameroon’s energy supply through the Project to Refurbish Electricity Transmission Networks and the Reform of the Sector, a project which will run for five years.

                Motaze stated that the choice to invest in livestock is a wise one because of the potential which lies in exploiting the 29% of the country’s unexploited arable land. He also affirmed that upgrading the electricity transmission network in the country will put an end to overload which is the cause of the poor quality of electricity in the country.

                Director Huybens said that the loans were evidence of the World Bank’s commitment to accompany Cameroon in its drive towards emergence. She added the loan will help breeders to overcome the challenges brought about by climate change thus fighting food insecurity and malnutrition.

                Cameroon’s existing power grids have proven to be insufficient to guarantee a constant supply of electricity to homes and industries. This has led to rather frequent power outage and rationing. Alongside the construction of new dams to generate electricity, this can be seen as an important step in the walk towards emergence.