According to the bank document, "the project involves the development, construction, and operation of a greenfield 225 MW Combined Cycle Gas Turbine (CCGT) power plant in the Mandalay region of Myanmar. It will increase much needed reliable and clean energy to the country's demand (currently installed power capacity in Myanmar is around 4,700 MW). When completed, the new facility will help to ease the country's severe power deficit. The Project is located in Taungtha, a township of Myingyan District in Mandalay Division. It is 108 km to Mandalay City and 226 km to Naypyitaw, the administrative capital of Myanmar.
For the environmental and social aspects of the Project, the Bank has decided to apply IFC’s Performance Standards (PS) on Environmental and Social Sustainability (2012) since they are consistent with the Bank’s Articles of Agreement and materially consistent with the provisions of the Bank’s Environmental and Social Policy and relevant Environmental and Social Standards and the monitoring procedures that IFC have in place to ascertain compliance with IFC’s Performance Standards are appropriate for the Project".
The project is co-financed with other Multilateral Development Banks and commercial banks. The AIIB financing will be in parallel with other lenders including the International Finance Corporation (“IFC”), the Asian Development Bank (“ADB”) and certain commercial lenders.
Project Team Leader
Ruben Hideo Noguchi
Senior Portfolio Monitoring Specialist
*There is no information being disclosed at this stage of the project*
ACCOUNTABILITY MECHANISM OF AIIB
In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.