Norway returns as financier of hydro in global warming era

A policy change in the revised national budget now makes it possible for the Norwegian government to issue guarantees for the purchase of carbon quotas from Clean Development Mechanism (CDM) projects in developing countries.

Development Minister Erik Solheim signals that CDM credit guarantees could give a new boost to hydropower financing in Africa. He promises more aid for building dams as part of Norway’s contribution to combating global warming.

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