Chinese ECA to fund Mozambique dam which will exacerbate poverty, livelihoods
(International Rivers Network, Berkeley, 28 April 2006) The government of Mozambique announced last Friday, 21 April, that the Export-Import Bank of China (Sinosure) has agreed to back the construction of the proposed Mphanda Nkuwa Dam, worth over US $2 billion. The financial agreement comes at great risk to Mozambique’s economy, environment, and people, for the benefit of foreign big business. Justiça Ambiental (JA!), a Mozambique-based organization, is urging its government to suspend all activity on the project until all project studies are completed and published. JA! and other organizations have been monitoring the preparations for Mphanda Nkuwa since 2000.