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The IFC InfraVentures project development fund signed a joint development agreement in mid-April with the government of Malawi to develop the 258MW Mpatamanga hydropower plant on the Shire River. The involvement of the International Finance Corporation (IFC) takes the project an important step forward and will be crucial in ensuring a successful independent power producer tender process, when the time comes. The final decision on when or if to do this and the conditions under which that will happen remains in the hands of the government.