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A US Senate Committee found that the World Bank and US government institutions financed "questionable payments" by Enron for a Guatemalan power project. In 1993 Enron built an electricity generating plant near Puerto Quetzal and sold the power to a government-sponsored utility. The project was partially financed by an IFC loan of $71 million. In an effort to conceal taxable income from Guatemalan authorities, payments were disguised as "add-on fuel charges" and re-routed to a bank account in Miami. Researchers for the Institute of Policy Studies have uncovered numerous allegations of fraud and corruption around Bank-financed Enron projects in Bolivia and Nigeria. This text may be freely used providing the source is credited. This page is: <http://brettonwoodsproject.org/art.shtml?x=19103> Published: 8 September 2003 , last edited: 11 September 2003 Viewings since posted: 2387 |
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