Turkey’s Plans for a $20BN Istanbul Canal

Turkey is planning on constructing a $20 billion canal across the city of Istanbul. Currently, ships passing through the Mediterranean and Black seas cross the Bosphorus strait, a narrow waterway that cuts right through the megapolis of Istanbul. However, the strait is getting congested and because of the 1936 Montreux Convention, Turkey collects zero revenue and has limited control over it. To solve this problem, Turkey is pursuing plans for a 45-kilometer long canal across the city, which would hopefully relieve congestion from the Bosphorus, collect revenue, and give Turkey more control over transit between the Mediterranean and Black seas. However, the project would also displace thousands, harm the environment, damage Istanbul’s water supply, and disrupt regional stability. Despite this, Turkish president Erdoğan is committed to the project and is hoping to start construction in June 2021.

Thank you to the following sources!

Information
https://www.europarl.europa.eu/doceo/...
https://www.melares.com/en/news/turke...
https://www.nationalgeographic.com/sc...
https://www.dw.com/en/turkey-unveils-...
https://time.com/5783560/canal-istanb...
https://en.wikipedia.org/wiki/Istanbu...
https://www.theguardian.com/environme...
https://www.businesstimes.com.sg/tran...

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