India's Export-Import Bank Lends Congo $42 Million to Build Bandundu Dam

India’s Export-Import Bank lent Democratic Republic of Congo $42 million to build a dam in west- central Bandundu province.

The Kakobola dam will provide power for almost 2 million people around the city of Kikwit, the office of Congo’s Prime Minister Adolphe Muzito said in an e-mailed statement.

The loan is part of a $263 million, three-project package agreed on in October during a trip to India by Congo Foreign Minister Alexis Thambwe Mwamba, Indian Ambassador to Congo, B.N. Srivastava, said by phone from Kinshasa today.

Contracts for a new hydroelectric power project and the rehabilitation of Kinshasa’s railway are expected to be signed in the coming months, Srivastava said.

In April, Congo and India also signed a treaty to provide a legal framework for cooperation between the two countries, Srivastava said.

To contact the reporter on this story: Michael Kavanagh in Kinshasa at mkavanagh9@bloomberg.net

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