most of the consulted people supported the project, because it would provide jobs, better road access and improved living standards. Some of those who were opposed to the project subsequently sold their land to the project developer. In December 2007, GENISA and representatives of the Ngobe Bugle people signed a cooperation agreement that included safeguards for the fundamental rights of the indigenous people. In May 2008 the Panamanian Environmental Authority ANAM approved the project based on the study. In December 2008 GENISA signed a Memorandum of Understanding in which it committed itself to implement a social development plan for the indigenous communities living next to the dam, including "infrastructure, health and education programs" during the construction and during the operation of the dam. In January 2009 a validation team consisting of the consulting firm AENOR working for the UN CDM Executive Board visited the area and confirmed "that the most relevant communities involved in the area of the project were consulted, all of them supported the project activity, and project participant (i.e. GENISA) has forecasted several social compensation measurements for the communities involved." The International Rivers Network says that the validation report by AENOR was flawed, since allegedly only the non-indigenous population had been consulted and they had failed to take into account all comments received. In 2009 the concession contract between the government and GENISA was signed. Increase of capacity and controversy about impact study (2009-2010) After presidential elections in early 2009, in June 2009 Ricardo Martinelli, a businessman who promised to quickly upgrade Panama's infrastructure, took office as President of Panama. In May 2009 GENISA requested a modification of the permit to increase the capacity by 52% to 28.8 Megawatt by moving the turbines to a lower elevation, without increasing the water level in the reservoir. The original environmental study and the permit referred to an installed capacity of only 19 Megawatt. In January 2010 ANAM approved the modification, and in January 2011 the concession contract was modified accordingly. As of 2010, according to the UN CDM project document, 98% of the land to be inundated was owned by GENISA. According to critics, the environmental impact study was flawed, because impacts on biodiversity were assessed superficially and because the capacity of the plant was increased. In late 2010 the European Investment Bank withdrew funding for the dam after an investigation into human rights abuses prompted by NGO protests.