“Chinese banks are among the leading lenders in neighboring Southeast Asia and Africa, making them important players in international development finance,” said Morgan Landy, IFC Transaction Risk Solutions Director based in Washington D.C.
“Hydropower demands are growing too fast to limit your scope to one country,” said Kate Lazarus, team leader for IFC’s Mekong sustainable hydropower program. “We’re approaching sustainability from an Asia-wide perspective.”
Sustainable hydropower develpoment can be done better. Experts agree that three areas needing improvement are addressing environmental and social risks upfront, improving sustainable lending, and strengthening regional cooperation.
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IFC Promotes Sustainability of the Hydropower Sector in the Mekong Region
In Asia, 700 million people live without electricity. To meet Asia’s growing energy demands, hydropower projects in the Mekong region are developing fast.
In Myanmar alone, hydropower potentials top 100,000 megawatts – the region’s highest. If realized sustainably, the energy produced could benefit six million people to meet their energy needs. This is coupled with Lao People’s Democratic Republic’s energy generation potentials, which could bring electricity to nearly all rural households by 2020, drive business growth, and generate income to reduce poverty.
The challenge, however, is to develop this natural resource sustainably. [read more]