Cameroon Secures $542m Loan from China

4 May 2011 (Last Updated May 4th, 2011 18:30)

The Government of Cameroon has obtained a $542m loan from the China Import-Export Bank for the construction of a 210MW Memve'ele hydroelectric dam on the Ntem River. Cameroon Economy Minister Louis Paul Motaze said this loan will help Cameroon to decrease its electricity capacity to some

The Government of Cameroon has obtained a $542m loan from the China Import-Export Bank for the construction of a 210MW Memve'ele hydroelectric dam on the Ntem River.

Cameroon Economy Minister Louis Paul Motaze said this loan will help Cameroon to decrease its electricity capacity to some extent, reports Reuters.

He also said that the construction of the Memve'ele dam is expected to be complete within five years, helping the country meet a target of doubling its electricity capacity by 2020.

China has been investing widely in Africa and seeks to procure raw materials to feed its own growth.