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PRESS RELEASE Three Gorges dam: investors still suspicious, controversy rages on

Despite China’s optimism in offering a $120 million bond issue for the Three Gorges Project this month, international investors are still hesitant to back the highly controversial dam. Says senior analyst Simon Billenness, of Franklin Research and Development in Boston, "Until the grave environmental and human rights concerns are adequately addressed, we wouldn’t touch Three Gorges with a barge pole." A project finance analyst, who asked to remain anonymous, maintained, "The Chinese are going to have a very difficult time financing this. I think the Three Gorges [project] is simply going to be crushed under the sheer weight of itself; the project is much too ambitious."

PRESS RELEASE GE alerted to economic risks, environmental destruction and human rights abuses linked to TG dam

General Electric shareholders are getting involved in the riskiest and most destructive dam project ever, according to seven environmental groups, representing nearly 900,000 supporters across North America. Their message was sent in letters to the largest shareholders in General Electric Company, after it was announced last month that General Electric Canada, a wholly-owned subsidiary of Connecticut – based General Electric Company, was awarded a contract to supply turbines and generators to the Three Gorges dam project in China.
 

Odious Debts: Loose Lending, Corruption, and the Third World’s Environmental Legacy

(May 28, 2008) We’ve all heard of the Third World’s debt crisis, of hopelessly poor nations unable to pay their debts, and of the human suffering and environmental consequences of their desperate predicament. Amid emotional calls from some to forgive the debt outright come the sober solutions from bankers and bureaucrats, with their seemingly unending stream of Brady and Baker Plans, and bewildering variants of them.