Turkey’s banks shy away from Erdogan’s ‘crazy’ canal – sources

SourceEgypt Independent
SectorFinancial Services
CountryMiddle east

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 … Continued

The post Turkey’s banks shy away from Erdogan’s ‘crazy’ canal – sources appeared first on Egypt Independent.

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 … Continued

The post Turkey’s banks shy away from Erdogan’s ‘crazy’ canal – sources appeared first on Egypt Independent.

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