The World Bank’s funding, along with $33.4m approved by the African Development Bank in 2013, will be used by the DRC to develop the project.
Once the project becomes operational, around 1GW of electricity will be sold to the national utility SNEL, and the proposal is underway to sell about 1.3GW to mining companies in DRC’s Katanga Province and an additional 2.5GW to South Africa.
Democratic Republic of Congo Prime Minister Matata Ponyo Mapon said the Inga 3 BC is the most transformative project for Africa in the 21st century.
"The World Bank Group’s involvement in this project reinforces its mission to fight poverty, and its ongoing commitment to help the Congolese government in its goal to move the country along the path to a strong development future."
