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By Ebru Tuncay and Can Sezer ISTANBUL (Reuters) - Some of Turkey's biggest banks are reluctant to finance President Tayyip Erdogan's planned Istanbul ...
Tuesday, 27 April, 2021 - 06:30 Turkey's President Recep Tayyip Erdogan salutes vessels as they sail the Bosphorus Strait in Istanbul last year. (AP) Asharq Al-Awsat Some of Turkey's biggest banks are reluctant to finance President Recep Tayyip Erdogan's planned Istanbul canal due to environmental concerns and the investment risks hanging over the massive construction project, four senior bankers told Reuters. Two of the sources said a global sustainability pact that six of Turkey's top banks have signed was a barrier to funding...
By Ebru Tuncay and Can Sezer ISTANBUL (Reuters) – Some of Turkey’s biggest banks are reluctant to finance President Tayyip Erdogan’s planned Istanbul canal due to environmental concerns and the investment risks hanging over the massive construction project, four senior bankers told Reuters. Two of the sources said a global sustainability pact that six of Turkey’s top banks have signed was a barrier to funding the Kanal Istanbul, which Erdogan dubbed his “crazy project” when he floated it a decade ago. The government expects to break ground in June on the canal, which would con...
6 Min Read ISTANBUL (Reuters) - Some of Turkey’s biggest banks are reluctant to finance President Tayyip Erdogan’s planned Istanbul canal due to environmental concerns and the investment risks hanging over the massive construction project, four senior bankers told Reuters. FILE PHOTO: Real estate agent Murat Ozcelik talks during an interview with Reuters at his office in Kayabasi district in Istanbul, Turkey, April 16, 2018. REUTERS/Osman Orsal/File Photo Two of the sources said a global sustainability pact that six of Turkey’s top banks have signed was a barrier to funding the Kanal Is...
Exclusive: Turkeyâs banks shy away from Erdoganâs âcrazyâ canal â sources By Syndicated Content By Ebru Tuncay and Can Sezer ISTANBUL (Reuters) â Some of Turkeyâs biggest banks are reluctant to finance President Tayyip Erdoganâs planned Istanbul canal due to environmental concerns and the investment risks hanging over the massive construction project, four senior bankers told Reuters. Two of the sources said a global sustainability pact that six of Turkeyâs top banks have signed was a barrier to funding the Kanal Istanbul, which Erdogan...