Announcement of Sixteen Million Five Hundred Thousand Dollars for Cameroon Third Highway Project on February 2, 1978

" FOR IMMEDIATE RELEASE- •World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A. • Telephone: (202) 393-6360 BANK NEWS RELEASE NO. 78/41 FEBRUARY 2, 1978 $16.5 MILLION FOR CAMEROON THIRD HIGHWAY PROJECT About 2.2 mil lion people in Cameroon and 1 mill ion people in Chad will benefit from a third highway project in Cameroon for which the World Bank has approved a $16.5 million loao. The third highway project is designed to reduce transport costs on the south-north Transcameroonian rail/road route and to im- prove overall transport planning and coordination. It consists of: reconstruction of the Garoua-Figuil road (95km) to two-lane paved standards; and technical assistance and fellowships to strengthen the planning and coordination capacity of the Ministry of Transport. The project road, which is a center link in a trunk road • serving local and inter-regional trade, wi 11 be an important part of the overall regional development effort, serving directly the economic and administrative center of Garoua, the agricultural marketing town of· Pitoa and the expanding cement industry of Figui 1. In addition, the project road will carry Chad's major imports and exports. The third highway project is sheduled to be completed in 1981 at a total estimated cost of $21.6 million. The Bank's $16.5 mil lion loan to the United Republic of Ca- meroon will be for 20 years, including 5 years of grace, with interest at 7.45% per annum. NOTE: Money figures are expressed in US dollar equivalents • • FORM NO. 1121 (5-76) T E C H N I CA L DAT A PROJECT: COUNTRY: TOTAL COST: Third Hi'ghway United Republic of Cameroon $21.6 million • BANK FINANCING: $16.5 million (20 years, including 5 years of grace at annual interest rate of 7.45%) OTHER FINANCING: Government of Cameroon: $5. 1 million IMPLEMENTING ORGANIZATION: Ministry of Equipment and Housing Yaounde, Cameroon Ministry of Transport Yaounde, Cameroon PROJECT DESCRIPTION: Reconstruction of the Garoua-Figuil road (95 km) to two-lane paved standards; and technical assistance and fellowships to strengthen the planning and coordi- nation capacity of the Ministry of Transport. • PROCU.REMENT: The Government has awarded the contract to reconstruct the Figuil-Mora road to contractor Wayss and Freytag (Germany). It has awarded the contract for reconstruction supervision to joint venture Lamarre Valois/lngeroute (Canada/France). CONSULTANTS: The consultant who will provide technical assistance to to the Ministry of Transport will be employed under terms of reference and conditions satisfactory to the Bank. ECONOMIC RATE OF RETURN: ESTIMATED COMPLETION DATE: 20% 1981 - 0 - •