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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.