Announcement of World Bank and IDA Lends Twenty Five Million Dollars to Cameroon on September 9, 1976

8 WorldBank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A. • Telephone: (202) 393-6360 BANK NEWS RELEASE NO. 77/14 September 9 , 1976 I DA NEWS RELEASE NO. 77 /6 WORLD BANK AND IDA LEND $25 MILLION TO CAMEROON The World Bank and its affiliate, the International Development Association (IDA), wil 1 support the Second Douala Port Project in Cameroon by providing a loan and a credit totalling $25 mill ion. Cameroon's major economic center, Douala, located on the Gulf of Guinea, makes it a vital gateway for the country's exports and imports as well as for those of its landlocked neighbours: Chad, and the Central African Republic. The first Douala Port Project which received an IDA Credit of $1.5 million in 1971 was satisfactorily completed in 1974. The main elements comprised in the Second Douala Port Project • are: (i) upstream port development, including new fishing berths, cold ·storage and market facilities, new dockyard and floating dry dock; (ii) downstream port development, including an area for handling logs, three moorings for log carrying vessels, a berth for containers and general cargo and a transit shed; (iii) dredging the entrance channel; (iv) road and rail access and other port improv·ements; (v) consulting services for supervision of construction. In addition to Tncreasing the timber export potential and the development of the forestry sector in Cameroon, the project is expected to increase Douala's import and export capacity. Provision of both fresh and frozen fish, an important part of Cameroonian diet, wi11 be improved through the development of fishing berths. Avoidance of port congestion, reduction in delays to shipping caused by the limited channel depth, the introdu;tion of specialized log carriers now unable to use the port are among the benefits of this project. Co-financing is a special feature of the project. The African Development Bank (AfDB); the Arab Bank for Economic Development in Africa (BADEA); the Kreditanstalt fur Wiederaufbau (KfW); the European Economic Community (EEC); and the Canadian and French aid agencies will participate in the financing of the project with loans and grants amounting to about $71 million. The $15 million Bank loan is for a term of 20 years including 4-1/2 years of grace at 8.9% per annum interest. The proceeds of the $10 mill ion • IDA credit wi 11 be re-lent to the National Ports Authority (NPA) on term~ and conditions similar to those of the Bank loan. NOTE: Money figures are expressed Tn U.S. dollar equivalents. FORM NO. 1121 (5-76) T E CHN I CAL DAT A PROJECT: COUNTRY: TOTAL COST: Second Douala Port Cameroon $ 120 mi 1 1 ion • BANK FINANCING: $19 million, for 20 years including 4-1/2 years of grace with interest at 8.9% per annum. I DA Financing: $10 mill ion, standard IDA terms. CO-FINANCING: Canadian lnternatlonal Development Agency (CIDA), $29 million; African Development Bank (AfDB), $12.4 mill ion; Arab Bank for E~onomic Development in Africa (BADEA), $10 mill ion; Kreditanstalt fUr Wiederaufbau (KfW), $8 million; Caisse Centrale de ~ooperation Economique (CCCE). $3.3 mill ion; Fonds d 1 Aide et de Cooperation (FAC). $3.J·mil 1 ion; Fonds Europeen de Developpement (FED). $4~9 million. IMPLEMENTING ORGANIZATION: The National Ports Authority of Cameroon, P.O. Box 4020, Doua1a,United Republic of Cameroon. PROJECT DESCRIPTION: It comprises the following principal elements: (a) upstream port development, including new fishing berths, cold storage and market facilities, new dockyard and floating dry dock; (b) downstream port development, including an area for handling logs, three moorings for log carrying vessels, a berth tor containers and general cargo and a transit shed; (c) dredging the entrance channel; (d) • road and rail access and other port irnproyements; and (e) consulting services for super- vision of construction. Construction is expected to start in 1976 and be completed in 1983. PROCUREMENT: The project will be executed under s~veral contracts. However, the main civil works (Including some dredging and reclamation) will be undertaken as a single contract in order to ensure a reasonabl~ coordination of the many elements of the proj~ct, and will be financed by BADEA, AfDB, FED, KfW, FAC, CCCE, Cam~roon and the Bank. lnt~rnational competitive bidding procedures in accordance with Bank guide] ines wil I apply to this main contract with the exception of equipment and materials for the \A/orkshop to be procured in France amounting to about 3 percent of the main civil works contract. Following pre-qualific~tion, bids were submitted on March 31 ,. 1976, and the lowest evaluated tenderer has been selected. The ~ajor part of the entrance channel dredging, and construction of fishing port bui ,_,ngs and floating dry dock, will be undertaken with tied bilateral aid from CIDA. CONSULTANTS: Supervision of construction of the project will be undertaken The consultants wi 11 by consultants under CIDA financing. also advise on channel maintenance dredging and ensure training of NPA staff in the use of the dredaer. The consultants have been selected in agre~rnent with, and under terms and conditions acceptable to the Bank and the other co-donors. ECONOMIC RATE OF RETURN: ESTIMATED COMPLETION DATE: 1983 17% • ... 0 -