Zambia: Dam among IFC’s first casualties of the financial crisis

Plummeting copper prices have caused investors to shy away from the $1.5 billion Kafue Lower Gorge Dam, which is designed exclusively for use by foreign mining companies. According to Reuters, the World Bank’s private sector arm, the International Finance Corporation (IFC), reports that the proposed $1.5 billion Kafue Lower Gorge Dam in Zambia has been put on hold, as many investors shy away from major commitments in light of the financial crisis.