Italy
Did You Know?
The Italian ECA, SACE, guarantees several notorious projects around the world including the BTC pipeline and the Ilisu dam.
"The majority of stakeholders object to the dam. People are wary of the social upheaval that lies ahead of them and some simply do not want to leave their village roots."
-European Rivers Network on the Ilisu Dam |
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Important Background Documents:
ITALY, NUCLEAR AND ECAs  by Antonio Tricarico, An Eye on SACE Campaign, Italy
SACE Projects Summary:
SACE has made significant contributions to a number of controversial projects. They are one of the many ECAs who guarantee investors in the BTC pipeline, a project run rampant with corruption and violations of human rights in the project's pathway. SACE is also involved in the financing of the Blue Stream pipeline through Russia, the Black Sea, and Turkey which has been criticized for the negative impact it will have on the environment and the overestimated speculation of its necessity to the Turkish people. SACE also guarantees several power plants around the world including the Cernavoda nuclear power plant in Romania, the Ilisu Dam in Turkey, and the Bonny Island liquefied natural gas (LNG) plant in Nigeria. Each project will negatively impact the environment in various ways. The disapproval of nuclear power present in Italy since Chernobyl leaves people questioning why the Italian government would play a part in the financing of the Cernavoda nuclear power plant. The Bonny Island LNG plant will damage mangrove forests and other areas where the local people rely on fishing in order to make a living. Additionally, the contruction of the plant is riddled with accusations of bribery and corruption. SACE offered USD $152M to the Italian contracting company Impregilo to guarantee its investment in the Ilisu Dam project which will alter the morphology of the Tigris River and destroy the ancient town of Hanskeyf.
More Info on the BTC Pipeline
THE BLUE STREAM
-BLACK SEA GAS PIPELINE PROJECT
More Info on the Cernavoda Nuclear Power Plant
Details of file Bonny Island by bothends.org
More Info on the Ilisu Dam
News 2004-2005:
 Italian Bank Pulls $60M Funding from BTC December 8, 2004
British, French, and Italian ECAs Finance Oil Pipeline in Algeria March 29, 2004
For more information, contact the ECA Watch Facilitator.
ECA Watch Campaign Member Links:
Reform the World Bank Campaign (CRBM): All Eyes on SACE "Occhio alla SACE,"
Antonio Tricarico (or alternate email) - www.crbm.org
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