ROME, June 4, 2009 - The European Investment Bank (EIB) announced last night that is not going to provide the financial backing for the dam project Gilgel Gibe 3, in Ethiopia. While not specifying the reasons for this decision, it is clear that the Development Bank of the European Union considered too negative impacts related to construction of the dam. 3 Gilgel Gyges, in fact, if completely devastated the ecosystem of the Omo Valley and Lake Turkana, Kenya, jeopardizing the food security of at least 500 thousand people.
The work of construction of hydroelectric plant, whose cost is estimated around half billion €, are entrusted to the Italian company Salini, who has been awarded the contract by the executive Ethiopian without any formal bidding process to take place.
The CRBM, Counterbalance the coalition, Friends of Lake Turkana and International Rivers have warmly welcomed the decision of the EIB, but at the same time pushing for the Italian Government and the African Development Bank are delivering no funds for the project. The government in Addis Ababa has asked Italy for a loan of 250 million € for the new dam, although our export credit agency, SACE, has already declined any form of support.
's worth mentioning that the dam Gilgel Gibe two, are nearing completion for the work of Salini, was at the time of our cooperation is financed by the EIB.
"The decision of the EIB in the right direction and we hope that this is the first step towards supporting a new energy model that respects the environment and local populations in the countries of the South," said Catherine Amick of CRBM. "The project has already collected the political consensus of the Berlusconi government, which after half the funds for development cooperation intends to allocate 250 million for work that could create a real humanitarian crisis in the region, and has collected numerous irregularities procedural, "he continued Amick. "The Italian cooperation should not fund this project, international civil society is ready to take the case to the UN Human Rights Council and also to undertake a legal battle, if necessary," concluded the Amicucci.
According to the NGO International Rivers U.S. where the African Development Bank would provide a loan to Gilgel Gibe 3 would violate its own policies on environmental and social impacts on poverty reduction, resettlement and cross-border management of water resources.
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