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Standard Bank’s new climate policy leaves open the possibility of the bank financing the East African Crude Oil Pipeline (EACOP), which will connect Uganda with Tanga port in Tanzania, Kenny Fihla, Standard Bank’s CEO for corporate and investment banking, tells The Africa Report.
Before making a decision, the bank wants to assess the carbon-reduction targets of partners in the project, the technology that will be used as well as the impact on people who will be displaced, Fihla says.
