Development banks seek to revive world’s biggest power project

Five development finance institutions have banded together to find a way to develop the world’s biggest electricity-generation project, the planned Grand Inga hydropower complex in the Democratic Republic of Congo that’s been stalled for decades. The Development Bank of Southern Africa (DBSA) and the Industrial Development Corporation, both South African State banks, are working with pan-African institutions — the African Development Bank and African Export-Import Bank — as well as the New Development Bank, the finance arm of the BRICS groups of nations.