A presidential decree signed on January 7, 2024 authorizes the signing of a financing contract with the European Investment Bank (EIB) to supplement the resources needed for the Rural Electrification and Energy Access in Underserved Areas Project (Perace). With this support, the government aims to have 240,000 connections by 2025, reaching more than 2.5 million people in six regions.
Cameroon is taking a major step forward in its rural electrification project by securing additional funding of 28.24 billion FCFA, or 43 million euros. This support comes from the European Investment Bank (EIB), according to the presidential decree signed on January 7, 2024. This funding will supplement the resources needed to achieve the ambitious objectives of the Rural Electrification and Energy Access in Underserved Areas Project (Perace).
Launched with an initial funding of 85 billion FCFA from the World Bank, Perace has so far electrified 417 localities and connected approximately 163,000 homes. However, due to the progress made ahead of schedule, the government has decided to raise the targets to 240,000 connections by June 2025.
Faced with these new objectives, an additional financing requirement of 39 billion FCFA has emerged. To meet this requirement, the European Union has already granted a subsidy of 10.6 billion FCFA. The recent EIB intervention covers the remainder of the amount required to complete the electrification works.
This contribution from the EIB strengthens its portfolio in Cameroon, which already stands at 720 million euros (472.2 billion FCFA) since 1965. The funds released will be used in particular to extend rural electrification in the Adamaoua and North regions, as well as to create nearly 100,000 additional connections.
The Perace project aims to increase the electricity access rate in Cameroon by 5% by June 2025. A total of 687 localities in six regions (Far North, North, Adamaoua, East, South West and North West) will be covered. In addition to building and rehabilitating medium and low voltage lines, the project includes measures to subsidize household connection costs and strengthen institutional capacities.
The goal is to bring electricity services to more than 2.5 million people, thereby helping to improve living conditions, stimulate economic activities and reduce inequalities in access to energy.
With financial support from partners such as the World Bank, the European Union and the EIB, the Cameroonian government is demonstrating its determination to reduce the energy deficit in underserved areas. This structuring project is also part of the national development strategy, which places access to energy at the heart of priorities for inclusive and sustainable growth.
Thanks to Perace, rural electrification is no longer just an aspiration, but a tangible reality for thousands of Cameroonians. The mobilization of additional funds ensures the continuation and completion of the work, paving the way for a future where electrical energy will be accessible to all, even in the most isolated regions.
