Turkey flouts ECA conditions highlighting weakness of OECD Common Approaches

(ECA Watch, Paris, 27 September 2007) NGOs have released their analysis of the 150 conditions attached to the export credit guarantees granted by EulerHermes, SERV and OeKB for the Ilisu project. The report finds that: - The project approval process is in breach of World Bank standards - The ToR are vague, unsubstantiated, contradictory and of a poor scientific quality - The project implementation does not comply with the ECAs' own conditions or with the World Bank standards. Despite these violations of the OECD's Common Approaches on the environment and official export credits, the 3 OECD ECAs have approved guarantees for the project.