APPENDIX 5
Supplementary memorandum submitted by
The Corner House
BUJAGALI DAM
AND ECGD—UPDATE
In Appendix 1 of the Corner House's evidence,
the Bujagali Dam is listed as being under consideration for support
by the Export Credits Guarantee Department. This was correct at
the time of writing.
However, in response to further inquiries, the
ECGD has now stated (February 15) that it is no longer considering
the project and would not be prepared to extend credits or guarantees
for it, due to unacceptable financial risks arising from the Ugandan
power sector. No formal application was made by AES, the project
developer.
The World Bank, which was also listed as a potential
funder, is however still involved. The project therefore remains
relevant to the Corner House's submission.
Nicholas Hildyard
The Corner House
February 2001
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