Arab Today, arab today brazil bank to invest in amazon dam
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Brazil bank to invest in Amazon dam

Arab Today, arab today

Arab Today, arab today Brazil bank to invest in Amazon dam

Rio De Janiero - AFP

Brazil\'s state-run development bank BNDES said Monday it had approved $11.25 billion in loans to finance construction of the controversial Belo Monte mega-dam in the Amazon basin. \"The BNDES management approved 22.5 billion reales ($11.25 billion) in loans to the Norte Energia (consortium) for construction of the Belo Monte hydroelectric dam on the Xingu River\" in the northern state of Para, the bank said in a statement. It noted that the project, which got under way more than a year ago and which next year will employ more than 20,000 people, will cost a total of $14.45 billion. Some 11 percent of the BNDES loans, around $1.6 billion, will be earmarked for social and environmental programs to mitigate the impacts of the dam on the region. Expected to produce 11,000 megawatts of electricity, Belo Monte would be the third biggest dam in the world, after China\'s Three Gorges facility and Brazil\'s Itaipu Dam in the south. It is one of several hydroelectric projects billed by Brazil as providing clean energy for a fast-growing economy. Indigenous groups fear the dam across the Xingu River, a tributary of the Amazon, will harm their way of life. And environmentalists have warned of deforestation, greenhouse gas emissions and irreparable damage to the ecosystem. The dam is expected to flood some 500 square kilometers (200 square miles) along the Xingu and displace 16,000 people, according to the government, although some NGOs put the number at 40,000 displaced. The dam\'s first turbine is due to start operating in 2015 and the last one in 2019.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil bank to invest in amazon dam Arab Today, arab today brazil bank to invest in amazon dam

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil bank to invest in amazon dam Arab Today, arab today brazil bank to invest in amazon dam

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday