The World Bank has withdrawn a $73m International Development Association (IDA) grant for the development of the 4,800MW Inga 3 hydropower project, according to environmental firm International Rivers.

The project, which was supposed to have been approved by its board of directors, will now be developed by a private investment deal with the International Finance Corporation, reports HydroWorld.

The environmental firm said that the move would help South African mining firms instead of beneficiaries in Congo.

In November 2013, the African Development Bank (AfDB) had approved $68m loan for the Inga Site Development and Electricity Access Support Project (PASEL) to support development of Inga 3 project.