Tuesday, April 18, 2006

Bank Dumps Uruguay Pulp Mill

Dutch banking giant ING announced in a letter to Friends of the Earth International, CEDHA and BankTrack that it is pulling out of a divisive venture opposed by environmentalists and local communities in Uruguay and Argentina.

The ING Group wrote in an April 12 letter that its participation in the
1.7 billion USD controversial paper mill project of Finnish company Botnia in Uruguay "is no longer under consideration".

Site of the pulp mill at Fray Bentos.
Photo credit: Giovanny Garrido/Argentinaphoto

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