22 December 2006
Both the International Finance Corporation (IFC) and European Investment Bank (EIB) disclosed project documents for the controversial Bujagali hydroelectric dam this week; IFC board date set for April 2007
On Wednesday, the IFC disclosed the long-awaited Summary of Proposed Investment (SPI) and Environmental and Social Review Summary (ESRS) project documents for the Bujagali hydroelectric dam. The documents indicate that the proposed $100 million investment in the project will go before the board for approval on April 19, 2007.
Meanwhile, the European Investment Bank (EIB) has today posted its own €100 million (approximately $130 million) proposed investment for the project. According to the Communication and Information Department at the Bank, the EIB "is planning to finalise its appraisal in March and, if successful, a financing decision may be expected after that in 2007."
- IFC Summary of Proposed Investment (SPI), International Finance Corporation, disclosed December 20, 2006 (IFC website)
- IFC Environmental and Social Review Summary (ESRS), International Finance Corporation, disclosed December 20, 2006 (IFC website)
- EIB Proposed Project Information, European Investment Bank, disclosed December 22, 2006 (EIB website)
- European Investment Bank approves over $1 billion for Africa's energy sector, Bank Information Center, December 21, 2006 (BIC website)
- EIB Extractive and Energy Projects in Africa Spreadsheet, updated December 22, 2006 (Microsoft Excel 39 KB) (BIC website)