Inga 3 could generate modest revenues under highly favorable conditions in the best and good-case scenarios. However, under the worst, worse, and most realistic median-case scenarios, Inga 3 would not even cover the DRC government’s debt payments for the project, let alone constitute a windfall that could fund development priorities.
With its Compact with Africa the German G20 presidency is actively promoting private loans and investment as solutions to infrastructure deficiencies on the African continent. The Compact aims at using public resources in order to improve the investment climate and mobilize private capital to finance investment critical to achieving sustainable development.
On Monday-Tuesday next week, Berlin will host the G20 finance ministers’ negotiations with African elites led by a South African, Malusi Gigaba. Is this the next neo-colonial defeat for the continent, harking back to another process 132 years ago?
As business continues to grow in influence globally, sometimes enjoying asymmetrical power relations with developing states, a new report notes serious concerns over private sector practices that are leading to increased human rights abuses and attacks on fundamental freedoms.