The agreement between Rwanda Government and African Development Bank (AfDB) of US$ 24.17 million was signed on 16th March 2016.
Mr. Negatu Makonnen, the AfDB contry representative said, “Sustainable regional infrastructure is a necessity for strong regional integration and key to successfully tackling today’s most challenging climate change-related problems and security.
The Multinational Ruzizi III Hydropower Plant Project is central to AfDB’s strategic vision for the development of the African energy sector through the promotion of universal access to low-carbon and inclusive modern energy. This concept has been demonstrated several times in this country.”
Ruzizi III project is shared by Rwanda, Burundi and Democratic Republic of Congo and will generate 147 MW to be equally shared among three countries.
This is the first regional project designed as public private partnership (PPP) with the objective of optimizing the hydropower potential for the region.
The entire cost estimated to be US$ 625 million including the bank contribution of US$ 190million covering contributions from Burundi, Rwanda and DRC and resources to be lent directly to the project company on commercial terms.
The project is expected to commence its construction in 2018 and to be completed in 2021.