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Bujagali Project: World Bank Group, AES & Ugandan Government To Organize Smooth Transition


IFC Contacts:
L. Joseph

Tel: +(202) 473 7700- Fax:+(202) 974 4384

Email :
ljoseph@ifc.org

Joseph O’keefe

Tel: +(202) 458 4032- Fax:+(202) 974 4384

Email:
jokeefe@ifc.org

World Bank Contact
:

Damian Milverton

Tel:+ (202) 473 6735

Email:
dmilverton@worldbank.org


WASHINGTON, D.C., August 13, 2003—Following AES Corporation’s decision to cease its involvement in the Bujagali hydropower project, which was announced on August 13, 2003, the World Bank Group, the Government of Uganda, and AES are establishing a working group to ensure a smooth transition in the development of the project.

The World Bank Group and the Government of Uganda believe that Bujagali remains the long-term, least-cost electricity supply option for Uganda and that it is in the best interests of the country to develop the project at the earliest opportunity.  


Peter Woicke, IFC’s Executive Vice President, said: “Bujagali is a critical project for the long-term development of Uganda.  We appreciate AES’s commitment to ensure a smooth transition for the project.  The World Bank Group will continue to work with the Government of Uganda to support the implementation of the Bujagali project in the context of a new public-private partnership.”


The World Bank’s Regional Vice-President for Africa, Callisto Madavo, added: “Bujagali is important to ensuring stability in the long-term supply of electricity to Uganda. The World Bank Group will make certain that the project remains in the forefront of ongoing bilateral discussions with the Ugandan Government and plans to assist the Government in its desire to implement this important project expeditiously.”