Enron Received Billions in Overseas Corporate Welfare posted by Reverend Chuck0 on Friday March 22 2002 @ 09:01AM PST Enron Succeeded in Aid Pursuit Company Won $7 Billion in Pledges for Overseas Plans By James V. Grimaldi Washington Post Staff Writer Friday, March 22, 2002; Page E01 Enron Corp.'s vast overseas energy investments were aided by promises of more than $7 billion in loans and insurance from the European, Asian and worldwide development banks, as well as key U.S. export-support agencies, according to a report to be released today. It has previously been reported that the United States' two primary development banks provided more than $3 billion in backing for Enron projects. The report by the Institute for Policy Studies, a progressive think tank, said Inter-American Development Bank and World Bank agencies each agreed to provide about $750 million, and an array of other agencies overseas promised $2 billion in assistance to power projects from China to Nigeria in which Enron was a participant. Compiled from media reports and agency annual reports, the study's totals include hundreds of millions of dollars in financing and insurance that were approved but never disbursed. The Overseas Private Investment Corp. (OPIC), for example, did not disburse about $840 million of the $2.5 billion it promised in support of Enron projects. Read More http://www.infoshop.org/inews/stories.php?story=02/03/22/6519918
