Tanzania, Rwanda and Burundi signed a Memorandum of understanding (MOU) aimed at implementing the Regional Rusumo Falls Hydro-electric project.
The Rusumo project which was planned almost 40 years ago since 1974 is expected to cost 340 million US dollars.
Energy and minerals Minister Prof Sospeter Muhongo admitted that implementation was delayed due to lack of professionalism, incompetence and corruption. He further thanked the World Bank (WB) for accepting to finance the Rusumo Hydro-power project with an initial loan of 340 million US dollars.
Speaking at the 6th-Energy Ministers’ Meeting in Bukoba Municipality recently, Minister Muhongo revealed that the African Development Bank (AFDB) has pledged to issue a loan amounting to 72 million US dollars.
However, Tanzania, Rwanda and Burundi nationals will benefit immensely with the generation of electricity which is set to impact the Region.
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