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International Project Finance: The Ilisu Dam Project in 2004 and the Development of Common Guidelines and Standards for Export Credit Agencies
Ist Teil von
The journal of structured finance, 2004-04, Vol.10 (1), p.46-54
Ort / Verlag
New York: Pageant Media
Erscheinungsjahr
2004
Link zum Volltext
Beschreibungen/Notizen
One of the largest water resource development projects in the world is the projected GAP or Southeastern Anatolian Project, consisting of 22 irrigation dams and 19 hydroelectric power plants. The GAP covers developments in several areas: electricity; agriculture; and social, economic, and environmental development. The total financing of the GAP Project will require $32 billion. With its focus on the human dimension and sustainability, the project has aroused international interest. US, Japanese, German, UK, French and other European export credit agencies are supporting the GAP financially. However, one of the projected dams, called Ilisu Dam, is controversial, mainly because of the land that would need to be flooded and the Kurdish people who would need to be resettled. The article provides an overview of the GAP and the Ilisu Dam Project. It outlines existing opinions, evaluates assessment reports concerning the project and its financing, and independently examines its compliance with international standards. [PUBLICATION ABSTRACT]