Blindness afflicts nearly 40 million people worldwide, with more than half of the cases caused by cataracts.
The condition can be corrected through surgery, but the West African country has only three ophthalmologists for 115,000 people who need treatment.
The investment from OPIC, the U.S. development-finance institution, will help the Magrabi ICO Cameroon Eye Institute, which was founded by Africa Eye Foundation, finance cataract surgery for up to 18,000 low-income Cameroonians over five years.
The eye-care provider will also partner with the University of Yaoundé to train and certify new eye-care specialists. Repayment of the “development impact bond” will come from the Conrad N. Hilton Foundation, Fred Hollows Foundation and Sightsavers.
Contributions for the Cameroon Cataract Development Impact Loan came from the Netri Foundation.
