The African Development Bank (AfDB) has reached an agreement with other financiers to avail of nearly $259m to finance a gas-powered electricity project in Cameroon, the Tunis-based sovereign lender said in a statement.

The Kribi power project will help Cameroon to meet its growing demand for power, particularly during peak periods, and further stimulate the country‘s economic development, the bank said.

The project comprises the construction and operation of a 216 MW 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.

“It will provide increased reliability of electricity supply and enhanced energy security in Cameroon,” the AfDB said in its statement.

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