The World Bank has approved a US$73mn grant to support the expansion of the Inga hydroelectric dam in DR Congo
The funding along with African Development Bank (AfDB)'s contribution of US$33mn will provide support on technical studies on the dam, analyse its environmental and social impact and guarantee its sustainability, said the World Bank in a statement.
Augustin Matata Ponyo, DR Congo Prime Minister, said, ”Inga-3 is undoubtedly the most transformative project for Africa in the 21st century.”
The grant will also help establish the Inga Development Authority, which will follow best international practices to implement the project and help shortlist private companies for additional funds, added the bank.
Upon completition Inga-3 is expected to generate 4,800MW of power, stated reports.
The bank also said that South Africa will buy 2,500MW from Inga-3, while 1,300MW will be given to DR Congo to support its mining industry.
Makhtar Diop, vice president of World Bank for Africa, said, ”By being involved in the development of Inga 3 from an early stage, we can help ensure that its development is done right so it can be a game changer by providing electricity to millions of people and powering commerce and industry.”
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