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The Problems with ECAs: An Overview

ECA funding for the controversial Ilisu Dam in Turkey was approved by German, Austian and Swiss ECAs in 2007 and withdrawn in 2009 because of widespread protests against its environmental and social impacts. Turkey nevertheless continues the militarization of this Kurdish area and construction of the dam.

 

ECAs are:

  • One of the biggest sources of financing for harmful projects;
  •  Undercutting progress & violating laws;

  •  Fueling a "race to the bottom;"

  •  Almost completely lacking transparency;

  •  Contemptuous of affected communities;

  •  Promoting corrupt practices;

  •  Adding to a crushing debt for developing nations;

  •  Facilitating arms transfers and human rights abuses;

  •  Increasing the very risks they were created to protect companies against;

  •  Assuming no responsibility.

Find out more about the background of ECAs in the world:




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