Standard Chartered Pulls funding from East Africa Oil Pipeline

Standard Chartered has become the latest amongst a string of insurers and banks to decline to provide finance for the East African crude oil pipeline (EACOP). BankTrack, a non-profit, says that the decision, which follows mounting pressure from the StopEACOP campaign, is particularly significant as the bank had previously confirmed that it was undertaking due diligence on financing the $5 billion project.

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