The World Bank will provide $340 million in loan for developing a joint hydroelectric dam for Rwanda, Burundi and Tanzania, an official statement issued said Sunday.
When completed by December 2020, the Rusumo hydroelectric dam will have a power supply of 80 MW, the statement said.
Finance ministers from the three African countries have signed an agreement on the project to be funded by the World Bank.
The project is to boost the national grids of Burundi, Rwanda, and Tanzania, each of which will receive an average $113.30 million, the statement said.
