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Activists call on banks not to finance Ugandan oil pipeline.

BANKING AND CREDIT NEWS-June 7, 2019--Activists call on banks not to finance Ugandan oil pipeline


Global Banking News - 07 June 2019

About 30 international and local campaign groups have called on two banks to abandon plans to raise funds for a Ugandan oil pipeline.

The pipeline has been proposed to export Ugandan oil. The groups said that the project would damage local livelihoods, water resources and wildlife.

The 900 mile pipeline is to run from fields in the west of Uganda to Tanzania's Indian Ocean port of Tanga.

The project it being supported by Standard Bank (SBJ.J) and Sumitomo Mitsui Financial Group Inc (TYO: 8316).

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Publication:M2 Banking & Credit News (BCN)
Date:Jun 7, 2019
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