The International Finance Corporation (IFC), a member of the World Bank Group is ready to increase support to projects in Cameroon in areas related to the creation of jobs and electricity power supply, especially the Nachtigal Hydro-power Project.
The Vice President of the International Finance Corporation for the Middle East and Africa, Sérgio Pimenta made the declaration on July 12, 2019 after talks with Cameroon’s Prime Minister, Head of Government, Chief Dr Joseph Dion Ngute. IFC that has an office in Cameroon’s economic capital, Douala, offers investment, advisory and asset-management services to encourage private-sector development in less developed countries.
In a press interview, Sergio Pimenta said the IFC has been very active in Cameroon supporting particularly the energy sector, financing and leading the mobilisation for the Nachtigal Hydroelectric dam project. He disclosed that upon completion, the project will add 30 per cent to the capacity of energy supply in Cameroon. “We have also been very active working with financial institutions such as banks to support small and medium-sized companies and entrepreneurs.” He used the audience with the Prime Minister to discuss other projects IFC could be supporting or increase, “Particularly everything that is related to the creation of jobs,” Sérgio Pimenta said. The Prime Minister, he said, expressed the view that the country needs more jobs for youths and women. “The IFC is in the position to help, working with companies here to create opportunities that will lead to jobs for the population, “he said.
The IFC delegation was accompanied to the Prime Minister’s Office by the Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey among others.