DRC, African Development Bank discuss rapid development of Inga 3 Hydropower Site & launch

Democratic Republic of Congo (DRC) Finance Minister Sele Yalaghuli recently announced that Congolese officials and those of the African Development Bank have agreed on plans to fast-track the development and launch of the Inga 3 Hydropower Project.

Speaking at the conclusion of a high-level consultation workshop at the bank’s headquarters in Abidjan, the minister said: “We came to reaffirm our partnership with the bank and its leadership in the effective and rapid implementation of the Inga 3 Hydropower project.”

The workshop brought together several senior Congolese government officials and the African Development Bank team in charge of the project. The DRC relies on its partnership with the bank as well as on the latter’s project leadership. The discussions, which took place between the 13th and 14th of January,  focused on various aspects of the Inga 3 site. Optimal project development will allow Congo to establish a roadmap for the development of the 4,800 megawatt facility.

“My presence at the bank's headquarters is a strong signal to move to a stage of concretisation of the development of the Inga site,” Congolese Minister of State in charge of Water Resources and Energy Eustache Muhanzi Mubembe, noted. He said his country's presence at the African Investment Forum 2019 organised by the African Development Bank in South Africa last November, had strengthened its commitment and determination, "because we have to break with the rhetoric and go quickly.”

The workshop made it possible for the Congolese and African Bank officials to carry out an inventory of the project and to review the process of selection of private partners. Much of the discussion focused on issues related to acquisitions and private sector financing.

Bank Vice President for Energy Wale Shonibare stressed that a  key requirement of the project is to optimise the development of the potential of the Inga site for the benefit of the DRC, the region and all of the African continent. He described Inga 3 as “an integrative project” and reaffirmed the bank's commitment to maintain its leadership and unfailing support for its realisation.