Norway explains decision to transfer US$80M in Amaila equity to IDB

Justifying the move to transfer US$80 million to the Inter-American Deve-lopment Bank (IDB) last year for the Amaila       Falls Hydropower Project (AFHP), a Norwegian official has said that given the vote in favour of bills in relation to the project, there appears to be sufficient support by the National Assembly for the AFHP.

“Guyana’s Low Carbon Development Strategy (LCDS) was approved by the Parliament in Decem-ber 2009, in which Amaila Falls has been a flag-ship project from the start. Furthermore, the amendment to the Hydro-Electric Bill and the debt ceiling motion, both necessary for the implementation of the hydropower project, were passed by Parliament in August 2013.