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Article

27 Aug 2010

Author:
Terri Hathaway, International Rivers

Gibe 3: AfDB, EIB out. Who's in?

Ethiopia's Gibe 3 Dam remains the most destructive dam being built today...Which banks are being chased to fund this highly destructive dam?...the African Development Bank officially withdrew its funding consideration, as did the European Investment Bank...The World Bank has told NGOs that, at this time, they are not considering any support for [the] Dam. Discussions are indefinitely halted after a high-ranking Ethiopian official allegedly told the Bank it could “go to hell” over its indigenous peoples safeguard policy...If tempers calm down, could the Bank jump back in, undermining its development goals and policies? [also refers to Dongfang Electric Corporation, JP MorganChase, China Exim Bank, Salini Costruttori, Industrial and Commercial Bank of China, TBEA]