Shivakumar, JayasankarPorter, Ian C.2012-03-192012-03-192011978-0-8213-6985-2https://hdl.handle.net/10986/2540Preparation of the $1.45 billion Nam Theun 2 (NT2) project in the Lao People's Democratic Republic (Lao PDR) represented an important milestone for the government, the developers, international partners, and other stakeholders. The story of its preparation and implementation is an important one, because it provides valuable insights and lessons that can be applied in future projects of similar size, scope, and complexity. Projects this size are always complex. NT2 was particularly complicated, however, because it was prepared during the challenging times that included the dam debate of the 1990s, which culminated in the world commission on dams, the Asian financial crisis of 1997, the strengthening of environmental and social safeguard policies and practices at the World Bank and other financial institutions, and the greater scrutiny of governance arrangements for the transparent use of natural resource rents by countries. This book covers those times and focuses on the widely differing perspectives of NT2's diverse stakeholders, the unique political economy of Lao PDR, the heated international debate on dams, the rapidly changing state of the art regarding poverty and safeguard interventions, the shifting signals within the World Bank, and the collective efforts of many different partners and stakeholders to ensure that NT2 met the high and appropriate standards.CC BY 3.0 IGOACCOUNTABILITYADBADOPTIONAFFORDABILITYAGREEMENTAGREEMENTSAID EFFECTIVENESSASSETSASSOCIATIONBANKBANK OFFICEBORROWERBUSINESS ALLIANCESCAPACITY BUILDINGCAPITALCIVIL SOCIETYCIVIL SOCIETY ORGANIZATIONSCOLLECTIVECOMMERCIAL BANKCOMMERCIAL BANKSCOMMERCIAL LOANCOMPANIESCOMPANYCONFIDENCECOOPERATIONCOOPERATIVECORPORATIONCORPORATIONSCORRUPTIONCOST ESTIMATESCREDITCREDITSCREDITWORTHINESSCRITERIADEBTDEVELOPMENT BANKDIRECT LOANDIRECTORSDIVIDENDSDIVISION OF LABORDONOR FUNDINGDOWNSTREAM AREASDUE DILIGENCEECONOMIC CRISISECONOMIC DEVELOPMENTECONOMIC IMPACTECONOMIC REFORMECONOMIC REFORMSECONOMICSEFFICIENCYEIBEMPOWERMENTENVIRONMENTENVIRONMENTALENVIRONMENTAL CONSERVATIONENVIRONMENTAL IMPACTSENVIRONMENTAL MANAGEMENTENVIRONMENTAL PROTECTIONEQUITYEQUITY INVESTMENTETHNIC MINORITIESEXCHANGE RATEEXPECTATIONSEXPENDITURESEXPORT EARNINGSFACILITATIONFINANCEFINANCE MANAGEMENTFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MARKETSFINANCIAL RISKFINANCIAL SUPPORTFINANCINGFLOWS OF INFORMATIONFOREIGN DIRECT INVESTMENTSFOREIGN EXCHANGEFOREIGN INVESTMENTGLOBAL INITIATIVESGOVERNANCEGOVERNANCE ARRANGEMENTSGOVERNMENTGOVERNMENT OFFICIALSGOVERNMENTSGRANTGROUPS OF PEOPLEGUARANTEEGUARANTEE AGENCYGUARANTEESHOUSEHOLDSINCORPORATEDINDIGENOUS PEOPLESINDIVIDUALSINDUSTRYINFORMATION SHARINGINFRASTRUCTUREINSTITUTIONAL REFORMINTERESTINTERESTED PARTIESINTERESTSINTERNATIONAL BANKINTERNATIONAL BUSINESSINTERNATIONAL FINANCEINTERNATIONAL SUPPORTINVESTMENTINVESTMENTSINVESTORSLABORLANDLAWLEADERSHIPLEGAL FRAMEWORKLENDERSLENDINGLIMITEDLOANLOAN AMOUNTSLOAN GUARANTEELOGGINGMARKETSMEDIUMNATIONAL INCOMENATURAL RESOURCESNEW BUSINESSNORDIC INVESTMENT BANKOPTIONSORGANIZATIONPEOPLEPERSONSPOLICIESPOLITICAL ECONOMYPRINCIPALPRIVATE EQUITYPROFESSIONAL ADVICEPROJECTSPUBLIC COMPANYPUBLIC FINANCEPUBLIC INFORMATIONPUBLIC POLICYPUBLIC-PRIVATE PARTNERSHIPPUBLIC-PRIVATE PARTNERSHIPSPURCHASING POWERPURCHASING POWER PARITYRETIREMENTREVENUEREVENUESRISKRISK MANAGEMENTRISK MITIGATIONSERVICESERVICESSHAREHOLDERSSOCIAL DEVELOPMENTSOCIAL WELFARESTAKEHOLDERSTAKEHOLDERSSTART-UPSTATESTATESSTRATEGIESSTRATEGYSUBSIDIARYSUSTAINABLE DEVELOPMENTTECHNICAL SUPPORTTRADETRADE AGREEMENTTRANSFERSTRANSPARENCYTRANSPORTTRUSTUNIONUNIVERSITYVALUEVULNERABLE GROUPSWorld Bank10.1596/978-0-8213-6985-2