Ugandan police arrest youth protesting STANBIC Bank’s involvement in EACOP financing

The East African Crude Oil Pipeline (EACOP) project proponents continue to underestimate the resolve of the communities in Uganda to oppose this project, particularly the young population. Today, they arrested nine students who were part of a larger group of students protesting the recent announcement by EACOP Ltd that they had closed the first round of debt financing. The EACOP company announced it had secured funding from five banks, including Stanbic Uganda, which was the target of today's demonstration.

One would expect that a bank like Stanbic Bank Uganda would, at the very least, issue a statement condemning the violent arrests, but they have remained quiet. As our campaign coordinator rightly stated while responding to the arrests, today’s actions confirm that banks like Stanbic are not only bankrolling environmental devastation but are also complicit in the suppression of those who dare to resist. Click here to read the coalition's media response to this arrest.