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International Banks Urged Not To Support Controversial Uganda Oil Pipeline

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NIJMEGEN, Netherlands

A letter on behalf of 30 international and African NGOs and activists has been sent to Standard Bank and Sumitomo Mitsui Banking Corporation urging the lenders to reconsider their initial support for an oil development project in Uganda, citing threats to water and livelihoods aamong othe objections. The banks are in the process of raising $3.5 Billion USD to finance the East African Crude Oil Pipeline (EACOP) that will transport oil 900 miles from Hoima in Uganda to Tanga in Tanzania.