What is the rationale behind IFC's support for hydro project
Bakovic: Without power, developing regions cannot grow. In fact , in some countries, two percent electricity growth is needed to achieve one percent GDP growth. Of course, we need to balance a need for power with concerns for the environment, and hydro power is a clean , reliable energy source. IFC has been involved in 40 hydro plants with an average capacity of around 100 MW that add up to a total 4,000 MW of energy. These hydros currently displace around 10 million tons of CO2 emissions every year.
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