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World Bank fails to provide facts about why it pulled out of Bugoye

Almost one and a half years after the World Bank pulled out of the Bugoye hydropower project, claiming two Norwegian companies represented a reputational risk, the Bank has still not yet given the firms a sufficient explanation.

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Business

Norconsult chooses to stand trial, aims to clear its name
The consultancy firm Norconsult refuses to accept a NOK 4 million fine for corruption related to a World Bank-funded water project in Tanzania. “In our opinion, there is no basis for the fine and we will try the case in court,” says Managing Director John Nyheim.
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FCG merges activities in Finland, aims to expand in aid market
The Finnish Consulting Group has merged its Finnish-based companies and aims to expand in the international aid market.
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Cites negative impacts of phasing out tax havens
A unilateral phasing out of tax havens as a tool for investment in developing countries would seriously hamper Norfund’s ability to mobilise capital for investments in renewable energy in least developed countries in Africa and other regions.
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