World Bank Stops Funding World’s Biggest Power Plant Plan
- Lender disbursed 6% of $73 million funding agreed in 2014
- World Bank disagrees with country over implementation plans
The Inga 1 dam.
Source: AFP vai Getty ImagesThis article is for subscribers only.
The World Bank has suspended funding to help develop a $14 billion hydropower project in the Democratic Republic of Congo, a stage in what could become the world’s biggest power plant, after a disagreement with the nation over implementation plans.
The announcement to halt financing the Inga 3 project followed the Congo’s decision “to take the project in a different strategic direction to that agreed between the World Bank and the government in 2014,” the Washington-based lender said in a statement on its website on Tuesday, without elaborating further.