The board of directors of The World Bank and the International Finance Corporation (IFC) have approved an $86m loan and $82m partial risk guarantee to support the Kribi gas power project in Cameroon.

The power project, estimated to cost $350m, is expected to supply reliable electricity to more than 160,000 households.

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The Kribi power facility is the first power plant to run on natural gas consisting of two main components.

The first consists of the development, construction and operation of a new 216MW natural gas-fired power plant near the Mpolongwe village.

The second component includes the development and construction of a new 100km, 225kV double-circuit transmission line including substations and transformers.

Delivered on the public-private partnership basis, the project is expected to be operational by late 2012 or early 2013.

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