The International Finance Corporation (IFC), the World Bank’s private sector arm, has pledged to inject financing into energy-related projects in the Democratic Republic of Congo.
The commitment was made during an audience granted to the institution’s delegation by the Congolese Minister of Water Resources and Electricity, Teddy Lwamba, in Kinshasa.
The International Finance Corporation (IFC) states that its intervention in this area is part of its “Scaling Made in” program, aimed at attracting investment in mini-grids.
“The International Finance Corporation (IFC) is committed to supporting government policy in the financing of energy projects through our “Scaling Made in” program, which aims to attract investment in mini-grids,” said Mary Porter Pescheka, IFC Head of Delegation and Regional Director for East Africa.
Continuing her speech, she specified that the World Bank subsidiary, through this action, “aims to bring electricity to landlocked areas, in collaboration with the government through a bidding program that it organizes”.
Energy is one of the issues that the Congolese government is keeping a close eye on these days.
Earlier this week, more technical discussions on the development of the Inga 3 project took place between the government and the World Bank’s representative in the Democratic Republic of Congo.
Although the content of the discussions was not disclosed, several sources note that the discussions focused on the financing of the project, as well as on how to make it profitable.
With this commitment on the part of the International Finance Corporation, the Democratic Republic of Congo could well close the energy access gap for its population.
Over the period 2025-2028, the DRC government plans to invest a total of 521.8 billion Congolese francs ($182.3 million) directly in the construction of various power generation infrastructures, including photovoltaic (solar) power plants and hydroelectric dams.
Flory Musiswa