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8 Mar 2021

Standard Bank suspends its support for the East African Crude Oil Pipeline after NGOs urge banks to withdraw citing environmental & social concerns

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263 non-governmental organisations have urged 25 banks listed as potential financiers of the $3.5 billion East African Crude Oil Pipeline project not to participate, citing environmental and social risks. The Standard Bank has subsequently announced that it is suspending its support pending the outcome of an environmental and social impact study.

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