Limbe Shipyard Project, dock construction component

Cameroon

A project commenced in 2005 in Limbe to construct a shipyard for repairing and maintaining large commercial ships and floating oil rigs. Although nearing completion, one of the project’s most important components - constructing a 400 m-long quay wall - has not yet been carried out owing to a financing gap caused by building material cost increases and the depreciation of the US dollar.

This loan will thus help cover this shortfall. Once the shipyard is complete, an estimated 5,000 employment opportunities will be created for craftsmen and small entrepreneurs. The demand for goods, particularly those related to agriculture, is expected to increase, helping boost incomes in both rural and urban areas.