AfDB Doles Out $113M To Fund Hydropower Project

Law360, New York (November 27, 2013, 2:53 PM EST) -- The African Development Bank Group will sink $113 million into an 80 megawatt hydropower project that will provide electricity for three African countries, adding to the $340 million the World Bank injected into the project in August, the AfDB announced Wednesday.

The $113 million in funds to support the Regional Rusumo Hydroelectric Project, which is expected to increase renewable power generation and accessibility in Burundi, Rwanda and Tanzania, will be funded through a $97.3 million contribution from the African Development Fund and the Nigeria Trust Fund...
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