Bujagali dam affected by Enron-fallout

25 March 2002

U.S. power company AES Corp. has been forced to delay building the $550 million Bujagali dam, Uganda, because of a financing shortfall. It has failed to raise extra cash from export credit agencies to match that from the World Bank, possibly because of campaigning by NGOs opposed to the dam. AES‘s shareprice has fallen 90 per cent since this time last year because of uncertainties following the Enron crash.

The IFC has also backed AES-sponsored projects in Pakistan, Mexico, Georgia, Panama and Bangladesh.

International River Network on Bujagali Dam