- The International Finance Corporation (IFC) announced it will collaborate with Mauritius based Tembo Power on the funding of development works to the tune of US$1 million for two hydro projects in Burundi.
- The IFC prepared a Summary of Collaboration to disclose a factual summary of the main elements of the co-development of the 9.6 MW Dama and 12.4 MW Siku mini hydropower projects.
The help may also include, early in the environmental and social assessment process, findings and recommendations related to environmental and social considerations regarding this project and, once available, an Environmental and Social Impact Assessment (ESIA) and other relevant environmental and social studies.
Tembo power is the project developer, and IFC will fund up to US$1 million of development activities, subject to ongoing compliance with IFC Performance Standards, and look to provide the debt financing in the future.
Author: Bryan Groenendaal