The Regional Rusumo Falls Hydroelectric Project, valued at around $468.6m, is expected to have an installed capacity of around 80MW.
Of the total funding, each of Burundi, Rwanda and Tanzania region will receive around $113.3m from the Bank’s International Development Association.
Commenting on the transaction, World Bank Strategy, Operations and Regional Integration director Colin Bruce said that the hydroelectric project is expected to provide lower-cost energy to homes and businesses in Burundi, Rwanda and Tanzania.
World Bank Africa Region Sustainable Development director Jamal Saghir said, "The Rusumo Falls Hydroelectric Project takes a regional approach to tackling Sub-Saharan Africa’s power crisis, providing low-cost, clean, renewable energy to people in Burundi, Rwanda and Tanzania.
"The new power plant signals the Bank’s commitment to keeping the lights on across the African continent, necessary for achieving growth, ending poverty and boosting shared prosperity in the region."
World Bank noted that the renewable project is expected to boost reliable power supply to the electricity grids of Burundi, Rwanda and Tanzania, reduce electricity costs, promote renewable power and spur job-led economic development.
