Opic set to approve Bolivian pipeline loan

  • 14/06/1999

  • Financial Times (London)

The US Overseas Private Investment Corporation is expected to approve a $200m loan for a gas pipeline in Bolivia, a project opposed by 60 environmental groups in 25 countries. Opic, which promoted US foreign investment by political risk insurance, has recently approved new stricter environmental guidelines. However, when it votes on the pipeline loan, environmentalists will be protesting outside its doors, insisting the agency is violating its own rules. The pipeline would cut through Chiquitano Forest, described as "among the most floralistically diverse dry forests in the world," home to several endangered species.