news - FMO welcomes agreement on Barro Blanco


FMO welcomes agreement on Barro Blanco

August 26, 2016

Dutch development bank FMO, one of the lenders of the Barro Blanco hydropower project, welcomes the fact that an agreement was reached between the Government of Panama and the indigenous representatives of the Ngäbe Buglé Comarca, which was announced on 22 August. The agreement covers cultural, social, economic and environmental aspects.

FMO expects that the implementation of the agreement respects the investment rights of its client Genisa, including the legal certainty of its investment. Furthermore, FMO calls upon the Government of Panama to continue its engagement with all stakeholders involved, which besides the owner of the project also includes the minority of people still opposing the project.

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