Facebook Bankable LinkedIn Bankable
Twitter Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

DR Congo: A $634M Project Launched to Boost Access to Water and Power in 14 Towns

DR Congo: A $634M Project Launched to Boost Access to Water and Power in 14 Towns

A $634 million project was recently launched to boost access to power and clean water in the Democratic Republic of Congo (DRC). Teddy Lwamba, Minister of Hydraulic Resources and Electricity, officially launched project, known as AGREE, on March 18. 

The project will be deployed in 14 towns, including Kinshasa, Kikwit, Bandundu, Tshikapa, Kananga, Mbuji-Mayi, Mwene-Ditu, Kabinda, Bukavu, Goma, Butembo, Beni, Bunia, and Boma. The AGREE is mostly backed by the World Bank, with a $600 million facility—split equally between a loan and a grant. The remaining $34 million is a grant from the Green Climate Fund. 

While the related financing agreement was signed in June 2022, it has taken nearly three years to finalize implementation. The DRC now faces a tight timeline to fully utilize the funds by the project’s closing date of September 30, 2029. This deadline presents challenges, particularly in conflict-affected zones such as Goma and Bukavu, where M23 rebels and their Rwandan backers maintain control.

The AGREE project allocates $30.75 million to improving governance and management of the Congolese power utility, Société Nationale d'Électricité (SNEL), and the water sector. Another $33.50 million is earmarked for technical assistance to provincial governments, central agencies, and service providers in the sanitation, water, and electricity sectors.

A significant $212.50 million will support electrification efforts in Kananga and Mbuji-Mayi through private sector involvement. Additionally, $223.25 million is dedicated to expanding public access to electricity and water infrastructure with private sector participation.  This includes rehabilitating parts of SNEL’s distribution network in Kinshasa and Gbadolite, extending water supply systems in Kananga and Goma-Ouest, improving sanitation in Bukavu, and fostering human capital development in targeted cities.

These four components account for $500 million of the total budget; however, details on how the remaining $134 million will be allocated have not been disclosed.

This article was initially published in French by Boaz Kabeya (intern)

Edited in English by Ola Schad Akinocho

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
biotech-this-congolese-native-stuck-a-major-deal-with-astrazeneca
AstraZeneca, one of the world’s leading pharmaceutical brands, bought his company two weeks ago. Jean-Pierre Latere is his name, and his startup,...
sofibanque-appoints-new-deputy-managing-director
Bobo Makunda Sefekese is the new Deputy Managing Director of Sofibanque, a leading bank in the Democratic Republic of Congo (DRC). The lender announced...
eastern-drc-conflict-over-2-500-schools-close-schoolap-ready-to-step-up
In the North and South Kivu provinces of the Democratic Republic of Congo (DRC),  2,594 schools have closed due to the escalating conflict with the...
banking-finance-isabelle-lessedjina-an-inspiring-leader
Isabelle Lessedjina has garnered recognition from Forbes Afrique, being named one of the 50 "most inspiring women of the moment" in the magazine's March...

African Economies

MOST READ

Please publish modules in offcanvas position.