In a March 2011 meeting with the Bank’s Board of Directors which took place after the Panel recommended further investigation into the potential harms of this project, the Panel agreed to wait for the results of the above-noted studies to decide whether or not an investigation of the project would still be warranted. The three studies focused on the cost, quality and availability of water associated with the project as these were identified by the Panel as the main issues warranting investigation.
After it had reviewed the studies with the help of expert independent consultants, the Panel published its report on July 29, 2011. Although the Panel was generally satisfied with the studies’ findings, there were still important questions raised on some of the assumptions made and methodologies used in those studies, and the experts hired by the Panel identified important implementation risks associated with the project that they say require further consideration.
The Panel has informed Management of those risks, and Management has proposed an action plan to address them. Management will report to the Board in 18 months (by the end of January 2013) on the progress of project implementation and implementation of the action plan. The Panel will monitor any developments related to Management’s action plan and will also report to the Board in early 2013 on whether subsequent investigation would still be warranted. It is important to note that the Panel’s mandate does not allow it to provide an independent assessment of the process unless through a formal investigation which it requires Board approval for.
Management Commissioned Studies
Project Cost Estimates, Financial and Economic Analyses, June 9, 2011 (Inspection Panel website)
Technical Review of Source Water Quality, June 9, 2011 (Inspection Panel website)
Technical Review of Source Water Quantity, June 9, 2011 (Inspection Panel website)