Mozambique’s $6.4bn hydropower plan to get World Bank funding

Mozambique won World Bank backing for its plan to build Southern Africa’s biggest hydropower plant in half a century. The lender plans to provide debt and equity funding as well as risk guarantees and insurance for the $5-billion Mphanda Nkuwa plant on the Zambezi river and an associated $1.4-billion power transmission project, World Bank President Ajay Banga said in an interview in Mozambique.