Search results for ‘Canadian Commercial Corporation

American firms appeal to Ex-Im bank to bankroll their exports to controversial Three Gorges dam

(November 29, 1995) American corporations have asked the United States Export-Import Bank to subsidize their exports to the controversial Three Gorges dam in China and Ex-Im has asked environmental and human rights groups for financial, technical and environmental information to help it decide whether or not to do so.

The World Bank’s Finances: An International S&L Crisis

(October 3, 1994) The World Bank, which is celebrating its 50th anniversary this year, has long enjoyed a sound financial reputation. But its AAA credit rating is not justified. Because of the perverse incentives under which the World Bank operates, the quality of its loan portfolio has diminished significantly, and because the bank is backed by rich-country governments, its irresponsible lending exposes Western taxpayers to a possible World Bank bailout on a scale comparable to the U.S. savings-and-loan bailout. That would leave taxpayers in the industrialized countries on the hook for $100 billion; U.S. citizens would be liable for nearly $30 billion.

Planning for Disaster: China’s Three Gorges Dam

(September 19, 1993) ON THE NIGHT OF AUGUST 27, 1993, a dam burst high in a remote western province of China, sending torrents of water crashing down on nearby villages, killing more than 200 people, and rendering thousands more homeless. Though no official reason has been given for this latest human-made disaster in a country plagued by them, one government spokesperson admitted that a destructive earthquake which hit the region of the Gouhou dam in 1990 "may have had some effect" in causing the dam to collapse under this year’s flood waters.