“World Bank Approves Controversial Big Dam Project Amidst Opposition: What You Need to Know”
The World Bank has recently approved the first of five major dam projects, marking a significant shift in its approach towards hydroelectric dams. After a decade of avoiding financing large hydro projects, the bank is now back in the business of supporting big dams.
The approved project involves the completion of the Rogun Dam in Tajikistan, a $6.3 billion endeavor that, if fully built, would be the world’s tallest dam at 1,100 feet. The total cost of the project is estimated to be $11 billion. Additionally, negotiations are underway for the financing of Inga 3 in the Democratic Republic of Congo, part of the Grand Inga project, a $100 billion venture that aims to significantly increase power output and bring electricity to a large part of the African continent.
Despite the ambitious scale of these projects, concerns have been raised about their social and environmental impacts. The construction of dams can displace thousands of people, disrupt ecosystems, and have long-term consequences on the region’s hydrology. Furthermore, the high costs and long construction timelines of dams raise questions about their economic viability compared to other renewable energy sources like solar and wind.
Critics argue that the World Bank’s support for these projects could set a precedent for other banks to invest in similar controversial dam projects. Environmental NGOs have expressed alarm at the surge in proposed dam projects and called on the bank to reconsider its investments in hydropower.
While proponents of hydroelectric dams highlight their potential to generate renewable energy in regions lacking electricity access, opponents emphasize the negative impacts of dams on communities and ecosystems. The debate over the role of large dams in the global energy landscape continues, with experts questioning the sustainability and necessity of these projects in the face of evolving energy technologies and environmental concerns.