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17 Mar 2015

Desmond Davidson, Malaysian Insider

Asian Development Bank to review loan to Sarawak Energy for Trans-Borneo transmission line

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"Asian Development Bank to review loan to Sarawak Energy", 16 March 2015

The Asian Development Bank (ADB) reportedly will review the proposed US$45 million (RM148 million) loan to state power company, Sarawak Energy Berhad (SEB), for the construction of the 47km high-voltage transmission line from Mambong in Sarawak to Indonesia's West Kalimantan. The announcement was made by ADB officials last week to a Malaysian green non-governmental organisation which had gone to the bank’s Manila headquarters to appeal for the cancellation of the loan over allegations of corruption by SEB and its failure to consult and compensate affected indigenous communities...“ADB is taking our concerns very seriously and has initiated an in-depth due-diligence process for the proposed loan to SEB,”...[said] Bruno Manser Fund (BMF)...As a result of the NGO complaint, the proposed SEB loan is currently undergoing intense scrutiny which includes a review of SEB’s corporate structure, track record and procurement practices.