CHINA's hopes of
completing the largest
hydroelectric project
in history, received
a temporary setback
when the Export-
Import Bank of the us
refused to help
finance the Three
Gorges dam on
May 30. The bank's
board voted against
issuing letters of
interest - which
allows foreign
countries to buy us
goods
and services through
subsidised loans
- to us companies that
had sought to
take part in the
project. The bank's
decision is in line with
the us government's
stance on the dam,
which is likely to
cost
more than us $25
billion. The 600 ft
high dam on the
Yangtze river would
create a 644 km-long
reservoir.
However, the bank
might reconsider
its decision if China
fulfills its environmental requirements.
China would have
to provide plans for
waste-water treatment plants to reduce
the pollution of
the reservoir and for
protecting endangered species.
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