The World Bank has announced it is to provide US$ 340 million in funding for East Africa’s Regional Rusumo Falls Hydroelectric Project, which will provide power to Burundi, Rwanda and Tanzania.
The Regional Rusumo Falls Hydroelectric Project is located 97 km west of Lake Victoria, Africa’s largest lake by area, which borders Tanzania.
The overall project cost is US$ 468.60 million. Once operational, the plant will have a 80 MW generation capacity, which will 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.
The funding is the first to be approved under the World Bank Group Great Lakes Regional Initiative, launched in May 2013.