Magazine article New Internationalist

Dodgy Finance: Credit Agencies Support Turkey's Undesirable Dams [Turkey's Southeast Anatolia Project]

Magazine article New Internationalist

Dodgy Finance: Credit Agencies Support Turkey's Undesirable Dams [Turkey's Southeast Anatolia Project]

Article excerpt

[Graph Not Transcribed]

Plans to build a controversial dam in southeast Turkey have exposed the mercenary activities of national export credit agencies (ECAs). Attached to Western governments, ECAs provide loans for high-risk investment projects undertaken by companies overseas.

An international consortium of construction companies subcontracted to build the Ilisu dam have approached ECAs in nine countries, including Britain, Germany, Switzerland, Sweden and the US, for loans to the sum of $850 million.

The Ilisu dam will displace 25,000 people in the Kurdish heartland of southeast Turkey. No compensation or resettlement package has been offered to the affected population and those who oppose it face intimidation by Turkish security forces.

Already, overpopulated cities have had to accommodate a further 100,000 people, displaced by dams in the southeast. Collapsing infrastructures cause endless energy and water shortages. …

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