World Bank Commits $1 Billion to Revive Key Congo Hydro Plan

The World Bank said it is committing $1 billion to help the Democratic Republic of Congo prepare for the development of the next stage of what could be the world’s biggest hydropower project.

The bank will initially commit $250 million toward Inga III, a portion of the Grand Inga hydropower complex. The project forms part of the so-called Mission 300 program, which is backed by the lender, aims to bring electricity to 300 million Africans by 2030 and could attract about $85 billion in private investment, according to Ajay Banga, the institution’s president.