Conflict of interest delays Bougainville hydro project

THE hydro-power plant project in Bougainville has been delayed due to conflict of interest, says Minister for Public Enterprises and State Investment William Duma.
He told Bougainville Governor Joe Lera and Parliament yesterday that the Asian Development Bank, which was responsible for funding the project, pulled out when it found out that one of the companies bidding for the project belonged to one of the board of directors of the project.
“The ADB pulled out and said that it would fund the project when the conflict of interest was cleared,” Duma said. “But the project progressed through the system one six months ago, with costs to be met by China and New Zealand grants.
“However, the plant was supposed to be funded by the ADB but they have pulled for the conflict of interest to be cleared before they fund the project,” he said.
Duma said that they were clearing the conflict of interest and once that was done, ADB would release the funds to carry out the hydro-power plant. “I am sure that we will complete this project by the end of the year,” Duma said.