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StopEACOP Slams Standard Bank for Funding East Africa Pipeline

The StopEACOP Campaign has criticized Standard Bank, Africa's largest lender, for its decision to provide financial support to the controversial East African Crude Oil Pipeline (EACOP) project. The $5 billion project, led by TotalEnergies, aims to transport crude oil from Uganda's oil fields to a terminal in Tanga, Tanzania.

The campaign alleges that Standard Bank's decision contradicts the project's alleged climate, environmental, and human rights risks, and conflicts with the assessments of other lenders who have ruled out support due to these issues.

In May, 11 pipeline critics were arrested in Uganda and Tanzania after expressing their concerns about the project.

InFocus

Masego Mafata/GroundUp

The #StopEACOP campaigners picketed outside Standard Bank’s head office in Johannesburg on June 12, 2023 (file photo).

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