World Bank Switches To Private Finance For $12B Congo Dam

Law360, New York (February 21, 2014, 4:06 PM EST) -- The World Bank wants to develop the $12 billion Inga 3 dam in the Democratic Republic of the Congo as a private investment through the International Finance Corp. rather than as a public project, according to a recent statement from environmental group International Rivers.

The bank on Feb. 5 postponed review of a $73 million grant for the future 4,800-megawatt dam, which has been heavily opposed by local residents and NGOs. The bank said it still supported the project but wasn't immediately available to comment on...
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