Export Credit News
11/28/2009 The recently completed Tekeze hydroelectric dam in Ethiopia is said to be the largest public works project in Africa. It also could turn in to the biggest blunder with disastrous environmental impact, as the investigative report below tries to illustrate. There is so much secrecy surrounding the project that it is not even clear who really paid for it, although the ruling Woyanne junta claims that it has provided all the funding. read more » |
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11/23/2009 The vastly over-budget and long-delayed Tekeze hydro-electric in Ethiopia is finally finished. The project, which was first proposed seven years ago and was scheduled to be competed in 2008, in the end cost $360-million—$136-million over budget. read more » |
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10/20/2009 Stimulus packages aside, the so-called “Great Recession” is forcing government leaders across the world to look for ways to cut back on the cost of public services. No sector, or service, will be spared they say. But Carl Mortishead, writing in The Times, reports there is one government office in the UK that—far from being forced to trim costs—will be given a larger budget: The Department for International Development (DfID), the British government’s foreign aid flagship. read more » |
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04/08/2009 The Globe and Mail reported on March 26 that Canada's Pension Plan Investment Board plans to venture into debt markets by selling up to $5-billion in bonds to cut borrowing costs and increase its flexibility to make new investments. read more » |
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03/05/2009 Behind Chile’s controversial plans to further dam the rivers of its ecologically delicate Patagonia region, which may soon be partially funded by the Canada Pension Plan (CPP), the Chilean government must first settle a growing debate over who actually controls Patagonia’s rivers. A number of companies were granted legal rights to Patagonia’s rivers during the final years of the infamous Pinochet regime, and the current plan is to build five large dams in the region. Now, the people of Patagonia want control of their rivers back. read more » |
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03/02/2009 “The project cost that includes complete work to make the project operative is $11.50 billion against the last estimate of $8.5 billion just six months ago,” official sources in the Ministry of Water and Power said. read more » |
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03/01/2009 Breaking its silence on the Rs 374.50-crore scam in Kerala, SNC Lavalin of Canada has denied any wrongdoing and, instead, blamed the CPI(M)-led Left Democratic Front government for not having cooperated with it. read more » |
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02/05/2009 According to recent Indian press reports, the country’s Central Bureau of Investigation has arraigned Claus Trendl, a senior vice president with Canada’s SNC-Lavalin, for the engineering giant’s role in a contract to overhaul three hydro-electric dams in the southwestern state of Kerala. It is alleged that irregularities occurred in the awarding of the contract and that Lavalin benefited from undue favour. read more » |
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11/26/2008 The Asian Development Bank, Chinese banks, and Indian firms are using foreign aid to build a mega-dam in Nepal where experts say an earthquake is likely. Nepal's Federation of Water and Energy Users says the decision bypassed Parliament, violates the constitution and the human rights of Nepalese. Meanwhile, local micro-hydro operators are churning out cheaper, reliable, aid-free power. read more » |
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