EIB statement on its possible involvement in the Gibe 3 project in Ethiopia
The European Investment Bank in Luxembourg
07 June, 2009
Following the recent publication of erroneous information regarding the alleged European Investment Bank decision not to finance the Gibe 3 project in Ethiopia, the EIB would like to confirm that, as of today, the Bank has not taken any formal decision on whether to undertake an appraisal of this project.
The Bank is following the development of this project closely and is aware of the issues raised by some NGOs which are typically the kind of issues that the Bank would examine in the course of its formal project appraisal. The Bank requires further studies in order to decide whether it should undertake the formal appraisal of this project. Should the EIB decide to move towards a project appraisal, it has already expressed its willingness to meet with interested civil society organisations in the future to discuss their concerns.
The Gibe III dam is under construction on the Omo River, approximately 300km southwest
of Addis Ababa. It is the third in a series of cascading hydroelectric projects in the region
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