Grand Inga Hydropower Complex: A Power Grab for the Elites
In a move that reeks of crony capitalism, five development finance institutions (DFIs) have joined forces to revive the stalled Grand Inga hydropower project in the Democratic Republic of Congo. The project, touted as the world’s biggest electricity generation project, is expected to displace thousands of people and benefit only a select few.
The Development Bank of Southern Africa, Industrial Development Corp, African Development Bank, African Export-Import Bank, and New Development Bank have partnered to develop the project, which promises to produce 40GW of electricity – enough to power the entire African continent. But at what cost?
The project’s history is marred by government corruption scandals and estimated costs of over $80 billion. It’s a recipe for disaster, with the potential to line the pockets of the elite while leaving the average Congolese citizen in the dark.
A Power Grab for the Elites
The project’s supporters claim it will bring much-needed electricity to the region, but the reality is that it will only benefit a select few. The majority of the population will remain in the dark, while the elite get to enjoy the fruits of their labor.
A History of Corruption
The project has a history of corruption scandals, with previous agreements falling through due to mismanagement and embezzlement. The latest agreement with Natural Oilfield Services is just another example of the project’s troubled past.
A Recipe for Disaster
The project’s estimated costs of over $80 billion are staggering, and the reality is that it will only benefit a select few. The majority of the population will remain in the dark, while the elite get to enjoy the fruits of their labor.
Conclusion
The Grand Inga hydropower project is a power grab for the elites, a project that will only benefit a select few while leaving the majority in the dark. It’s a recipe for disaster, and we should be wary of its true intentions.
