World Bank Approves $340 Million for Africa Hydro-Power Project

The World Bank said its board approved $340 million of financing for a hydroelectric project intended to provide electricity to 62 million people in Rwanda, Tanzania and Burundi. The Regional Rusumo Falls Hydroelectric Project has a total cost of $468.6 million and will eventually have generation capacity of 80 megawatts, according to a statement released today by the Washington-based bank. Each country is getting $113.3 million from the bank’s International Development Association unit, which offers zero-interest loans and grants to the poorest countries, it said. The so-called run-of-the-river project aims to…

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