Africa - Second Additional Financing and restructuring for Southern African Power Market Project : summary of discussion (English)

The Executive Directors approved the second additional grant in the amount of SDR 130 million ($201.5 million equivalent) and restructurings for the Southern African Power Market Project to the Democratic Republic of Congo and the Southern African Power... See More + The Executive Directors approved the second additional grant in the amount of SDR 130 million ($201.5 million equivalent) and restructurings for the Southern African Power Market Project to the Democratic Republic of Congo and the Southern African Power Market Program on the payment terms and conditions set out in the President's Memorandum (IDA/R2012-0157). The Directors underscored the key pivotal role of the project as a critical infrastructure for the Southern Africa region as a whole and the Democratic Republic of Congo. More broadly, Directors strongly emphasized the need for strong economic governance and transparency. In this regard, they urged continued dialogue with the government and other donors to ensure that appropriate measures are in place related to the country economic governance matrix in general, and transparency of mining contracts in particular.  See Less -