A Dutch bank has decided to divest itself of its holdings in a French company that is participating in building Jerusalem's light rail system, on the grounds that the project "is not in line with the United Nation's demand to stop all support for Israel's settlement activities."... Work recently began on the railway's first line, which will run from Neveh Ya'akov to Mount Herzl, passing through parts of the city that Israel annexed in 1967 on its way. ASN [part of SNS Reaal], the Dutch bank, holds shares in the French firm, Veolia, whose subsidiary Connex Israel holds about 5 percent of the CityPass consortium...Both the bank and...human rights groups...urged Veolia to end its involvement in the project...Veolia replied that it is looking into the matter, "but meanwhile, ASN Bank's criteria are not met by that answer," the bank said...The Light Rail Administration...stressed the project is meant to serve all the city's residents, Jewish and Arab alike.