IDB to fund further studies on Amaila hydropower project
The Inter-American Deve-lopment Bank (IDB) is looking to fund further studies relating to the Amaila Falls Hydroelectric Project (AFHP) but whether it would still provide further financing for the project itself is open to question as under a new policy, the United States will be required to vote against multilateral funding for large-scale hydroelectric projects in developing countries.
“Under the new mandate, the US executive directors will have to object to dam projects such as Inga 3 on the Congo, Dasu on the Indus, Adjarala in Togo, Amaila Falls in the rainforest of Guyana, and the dams in the Nam Ngiep and Se-kong river basins in Laos,” said Peter Bosshard, the Policy Director of Inter-national Rivers, a global watchdog group. Before US-based Sithe Global pulled out here last year as the developer of the US$858.2 million, 165 megawatt hydro venture, the AFHP was shrouded in controversy as costs escalated.
The new instructions are contained in the Consoli-dated Appropriations Act, the budget compromise which was approved by the US Senate and House last month and in the section on multilateral financial institutions, the Act says: “The Secretary of the Treasury shall instruct the United States executive director of …..To continue reading, login or subscribe now.