Giant Dam for Laos
The decision today by the World Bank to underwrite a giant hydroelectric scheme in Laos is supposed to bring the very poor and landlocked country amazing wealth. Critics say the homework hasn’t been done and the dam, which will flood an area the size of Singapore, may affect the livelihoods of as many as one hundred thousand people. South East Asian correspondent Jay Lamey says in the short term the real winners are the developers who will initially own 75% of the project and have all their risk underwritten by the World Bank. The decision coincides with confirmation that neo-con Paul Wolfowitz will be heading up the World Bank. It’s expected that the appointment will mean that decisions by the Bank will be under extra scrutiny to make sure the US doesn’t use it to further its own interests in the developing world.
NGO link re dam project
Lao government site
Company site