...ING Group communicated to CEDHA that following recommendation by its advisory and coordinating team,...ING’s participation in the multimillion dollar Finnish papermill mill project by Botnia in Uruguay “is no longer in consideration”. In parallel, and just a few days earlier, the International Finance Corporation announced it would postpone consideration of loans to the papermill projects by ENCE of Spain and Botnia of Finland, until new identified shortcomings of the environmental and social impact studies could be addressed...The withdrawal of ING from the Botnia project responds to the systematic violations of both projects to policy, regulations and norms stipulating conditions for responsible and sustainable investment, including violations to the Equator Principles, violations that have been confirmed by the CAO.