Middle East and North Africa

Turkish court orders suspension of Ilisu dam construction

(ECA Watch Austria, Istanbul, 10 January 2013) The Turkish State Council ruled on January 7 in favour of the legal case filed by the Chamber of Architects and Engineers (TMMOB) against the construction of the Ilisu dam project, ordering an immediate halt to the controversial dam construction in southeast Turkey. The Council of State concluded that the Ilisu dam construction on the Tigris River, proceeding without the legally required Environmental Impact Assessment (EIA), goes against Turkish environmental law and EIA regulations.
Dodgy Deal: 

How ECAs create debts and inflate aid budgets: the example of Sudan

(Eurodad, Brussels, 13 December 2012) Export credit debts constitute the largest component of the external bilateral debt of developing countries. Last year, Eurodad research revealed that almost 80% of poor countries’ debts to European governments come from export credit guarantees, which are in most cases driven by commercial, not development objectives.

Ex-Im Bank approves $2 billion loan to Barakah nuclear power project in UAE

  (Reuters, Washington, 7 September 2012) The U.S. Export-Import Bank said on Friday it authorized a $2 billion direct loan to Barakah One Co of the United Arab Emirates to purchase U.S. equipment and construction services to build one of the world's largest nuclear power plants. 

Ex-Im Bank touts 18K U.S. jobs in $5B loan for Saudi petrochemical complex

(E&E Publishing, Washington, 28 September 2012) Saudi Aramco and Dow Chemical Co. are $5 billion closer to building a world-scale petrochemical complex in Saudi Arabia, thanks to the U.S. government. Yesterday, the Export-Import Bank authorized a $4.975 billion loan to Sadara Chemical Co., a joint venture between Dow and Saudi Aramco... making it the largest job-creating deal in the bank's history... Doug Norlen, a policy director at Pacific Environment, said the environment is also a loser in the deal.

Ten Ethiopian Boeing B787s Mainly Financed by J.P. Morgan with US Ex-Im Guarantee

 Ten Ethiopian Boeing B787s Mainly Financed by J.P. Morgan with US Ex-Im Guarantee (EthioSports.com, Addis Ababa,17 August 2012) Ethiopian Airlines has secured $1 billion of financing from J.P. Morgan for 10 Boeing B787-8- Dreamliners. The US Ex-Im Bank has provided export credit agency support via guaranteed loans that cover 85% of the total cost of the aircraft.