The funding will be used to offer expertise to support DRC in the development of its large hydropower potential, which is assessed to be the third largest in the world following China and Russia.
Inga has the potential to generate 40,000MW, while the Inga 3 BC development is expected to use about one sixth of the flow of the Congo River through the Bundi Valley, which would have a dam to create a 15.5km² reservoir.
World Bank Africa vice president Makhtar Diop said by being involved in the development of Inga 3 BC from an early stage the bank can help ensure that its development is done right so it can be a game changer by providing electricity to millions of people and powering commerce and industry.
"Supporting transformative projects that expand people’s access to electricity is central to achieving the World Bank Group’s twin goals of helping to end extreme poverty and boosting shared prosperity," Diop added.
About one thousand MW of electricity produced by the Inga 3 BC would be sold to the national utility SNEL, which would use it to power households and small businesses in greater Kinshasa.
The move is to increase in power generation in order to meet the expected rise in demand for power in Kinshasa by 2025.
Additionally, 1,300MW of power would be sold to mining companies in DRC’s Katanga Province and a 2,500 MW would be sold to South Africa.
