World Bank Injects $340M Into African Hydropower Project

Law360, New York (August 7, 2013, 12:14 PM EDT) -- The World Bank's board of executive directors on Tuesday approved $340 million in financing to help jump-start an 80 megawatt hydropower project that will provide electricity for three African countries, according to a statement.

The funds, which cover the majority of the project's overall $468.6 million cost, will be divided equally among the governments of Burundi, Rwanda and Tanzania. The money is coming out of the bank's International Development Association, which is used to bolster the poorest areas, it said.

Dubbed the Regional Rusumo Falls Hydroelectric...
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