Standard Bank reviewing oil pipeline financing concerns

The pipeline project remains a subject of debate with some, especially in civil society, claiming it will have adverse impact on the environment. Photo | Courtesy 

What you need to know:

  • Civil society organisations, in their letter, however, want the banks to among others publicly commit not to participate in financing the oil pipeline project.

Standard Bank Group has said a “preliminary finding report is currently under review” of the key concerns, especially on the environment and social impacts, related to the proposed East African Crude Oil Pipeline (EACOP).

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