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The report examines hydropower planning in the Se San and Sre Pok Basins, highlighting a persistent gap between progressive regional policies—such as those of the Mekong River Commission (MRC)—and the actual practice of site selection, which remains driven by national economic interests and technical-economic feasibility. It argues that while the 1995 MRC Agreement provides a legal framework, genuine environmental governance requires a transition from project-based to programme-based approaches that incorporate local perspectives and transboundary impact assessments. The study uses the Yali Falls Dam incident as a critical example of governance failure and a potential catalyst for improved conflict resolution and information sharing.