Internal audit: Sida took too much at face value when it gave bridge financing to Bagamoyo bioenergy project

An internal Sida report obtained by Development Today strongly criticises the agency’s decision to grant up to SEK 120 million to keep Bagamoyo EcoEnergy (BEE) afloat in Tanzania. BEE, which now owes Sida SEK 54 million, had little equity of its own, and “no track record” of running large agricultural projects.