This is not good news. As you know, this financing was very important in 
helping to solve the liquidity problem. John did tell me that they had good 
meetings with the Embassy this week. My experience with OPIC tells me that 
with a change in administration in Washington and the concerns John mentions 
in his memo, we should not count on the financing. Thanks, Joe
---------------------- Forwarded by Joseph W Sutton/ENRON_DEVELOPMENT on 
09/14/2000 04:30 PM ---------------------------
   
	Enron International
	
	From:  John Hardy                           09/14/2000 02:40 PM
	

To: Joseph W Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:  
Subject: Update on Azurix - Buenos Aires water project

Joe
 As an update to my earlier email on the Azurix water project, Azurix has 
suspended OPIC's consideration of the project until either we are able to get 
a more positive cable out of the US Embassy in Argentina or George moves on - 
probably in late January.  
 But the OPIC pullback together with the publicity about Rebecca's departure 
has caused serious concern on the part of IDB which is now pulling back.  The 
IDB has made it clear that they are concerned about Enron's intentions 
regarding Azurix.  I have talked to Azurix about seeking some statement of 
support from Enron so that we can address this issue head on.  You may well 
be getting some communication from John Garrison on this issue.  If we can 
get back on track Azurix may be able to get IDB Board approval this fall.
 Hope you are well.  thanks John