The president of the World Bank, James D. Wolfenshn, will meet with President Leonel Fernandez today. According to a report in the newspaper Hoy, on top of Wolfenshn’s agenda is the Smith-Enron power plant issue. The International Finance Corporation, a division of the World Bank, is co-financier of the power plant in violation of two IFC requirements: that the project be the result of a tender and that the loan be guaranteed by the Dominican government. On 5-6 March in Mexico, two hearings in an international arbitrage court were held regarding the Smith-Enron plant. The controversy is over what the CDE says are demands for payment for installed capacity versus energy served.
