The African Development Bank, the Central African States Development Bank, the European Investment Bank and the French Agency for Development will provide $163m while the government of Cameroon will disburse $199m.
World Bank country director for Cameroon Gregor Binkert said the Lom Pangar project will help meet the immediate needs of the people of Cameroon and its national economy.
It will enable the Lom Pangar dam to store water and later release during dry periods and will increase hydropower generation capacity on the Sanaga River by 40%.
Additional hydropower plants in the Sanaga River Basin will also be developed, according to the World Bank.
The project will also include financing for a 30MW power plant which will replace expensive thermal generation and offer access to electricity in eastern Cameroon.
