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Germany’s largest lender has come under pressure to make clear its stance on financing of the planned $3.5 billion East African Crude Oil Pipeline (EACOP), which would stretch more than 1,400 kilometres from Uganda to Tanzania.
Deutsche Bank has never been involved in the financing of the pipeline, said the person, speaking on condition of anonymity.
Deutsche Bank said in a statement that it doesn’t comment on clients, but that it “supports the transition to a low-carbon economy” and its policies prohibit it from knowingly financing projects that clear primary forests, areas of high conservation value and peatlands.
