Standard Chartered supports landmark UKEF-backed financing for Cameroon’s Kribi–Ebolowa road upgrade

24 June, London, UK – Standard Chartered announces its role in arranging a EUR198.3 million Export Credit Agency (ECA) backed financing to support the rehabilitation of the Kribi–Ebolowa road in Cameroon, a critical infrastructure project expected to significantly enhance regional connectivity and trade. 

The financing, supported by UK Export Finance (UKEF) – the UK government’s export credit agency, has been extended to the Republic of Cameroon, acting through the Ministry of Economy, Planning and Regional Development (MINEPAT). The transaction reinforces the strong and longstanding partnership between Cameroon, the United Kingdom, Standard Chartered and UKEF in addressing the country’s infrastructure needs. 

The 162-kilometre road linking the port city of Kribi to Ebolowa via Akom II forms a key economic corridor. The route currently constrains mobility, increases transport costs and limits trade development across communities. The project will upgrade the road from dirt to asphalt, improving safety, reducing vehicle operating costs and facilitating more efficient movement of goods and people. The project is being executed by Italian construction firm ICM Group, appointed by Cameroon’s Ministry of Public Works, with Dar al-Handasah serving as project consultant. With a substantial portion of the project’s input sourced from UK exporters including ICM Construction Limited and DINTS International Limited, UKEF’s support enhances the overall financing structure and underscores the UK’s commitment to enabling high-impact infrastructure development. 

Standard Chartered acted as ECA Coordinator, Structuring Bank, Sole Bookrunner and Mandated Lead Arranger for the transaction. The Bank structured a comprehensive financing package comprising of a EUR198.3 million UKEF-guaranteed facility, alongside a EUR11.9 million commercial loan. 

UKEF’s support for this transaction also reflects its wider ambition to provide GBP10 billion in finance for low and middle-income countries by 2029 – helping to unlock sustainable infrastructure, clean growth and trade opportunities in the markets that need them most, while securing export wins for UK businesses.

Mustafa Sajjad Hussain, Executive Director, Development & Agency Finance at Standard Chartered said: “This transaction demonstrates our continued commitment to supporting sustainable infrastructure development across Africa. By mobilising long-term financing alongside UKEF, we are helping to unlock a critical transport corridor that will drive trade, improve connectivity and support economic growth in Cameroon’s South Region.” 

Tim Reid, CEO UKEF commented: “UKEF is pleased to support a second major infrastructure project in Cameroon, this time in partnership with Standard Chartered Bank, boosting trade and creating new opportunities for UK exporters. This investment also reflects the value of strong international partnerships in delivering long-term social and economic development overseas.”

This latest mandate builds on Standard Chartered’s strong track record in Cameroon, particularly in arranging ECA-backed financings across transport and social infrastructure, including the UKEF-supported Eastern Entrance to Douala project completed in 2022.

The Kribi–Ebolowa road project is expected to deliver transformative benefits to Cameroon’s South Region, strengthening a strategic economic corridor, improving road safety and supporting regional integration, including connectivity to Trans-African Highway networks linking Cameroon with Chad and Equatorial Guinea. 

— ENDS —

For further information please contact:

Denada Muka
Communications, Europe
Standard Chartered Bank
Tel: +44 7884476951
Email: Denada.Muka@sc.com

Standard Chartered

We are a leading international banking group, with a presence in 54 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.