After partial suspension in July, World Bank completely stops the funds for Lebanon’s Bisri dam project
The World Bank confirmed on Friday that it has canceled a loan of $244 million for Lebanon’s Bisri dam after raising concerns in January about the project. Bank has notified the decision to the Lebanese government which is effective immediately.
As per the statement given by the World Bank, it was revealed that
despite emphasizing on open, transparent and inclusive conduct of the project,
teh same was not delivered by the Lebanese government. Funding for the dam
project was halted on June 26 but only partially as the World Bank was
concerned about the progress of the project.
The project was first highlighted in 2015 when a alot environmental
activists objected to the construction of a $617 million (total cost)dam. But
those objections led nowhere and now when Beirut saw a massive blast that
killed more than 190 people and injured iver 6,000 people in the capital city
of Lebanon.
For the project, the World Bank had already committed $474 million for
the project of which $244 million was still left to be released. The Bank has
given warning to the Lebanese authorities wanting to know about the progress of
the project and July 22 was decided as the deadline for it but later on it got
extended due to the coronavirus pandemic and September 4 was made the new deadline.
The authorities failed to produce a progress report for the extended date also
which led to the World Bank to cancel the funding.
The Bank further clarified that not
only did the authorities not produce the progress report but they also did not
come up with a compensation plan for the ecological damage that the project
would have done. Even the contractor was not mobilised for the construction
project. However, the World Bank cleared its stance keeping possibilities of
helping people suffering after Beirut blast through loans including the
undisbursed amount.
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