Thousands of families displaced, wildlife habitats -- home to vulnerable species such as elephants and chimpanzees -- threatened, and carbon emissions increased. These are some of the risks from a planned oil pipeline stretching from Uganda's Lake Albert to Tanzania's Indian Ocean coast, environmentalists say.
Activists say these considerations have led to several Western banks ruling out financing the more than 1,400-kilometer East Africa Crude Oil Pipeline , but they expressed concern over news this week that Chinese financiers Sinosure and the state-owned Export Import Bank of China could be throwing their weight behind the project instead.
France's TotalEnergies has a 62 percent stake in the multibillion-dollar project, the Uganda National Oil Company and the Tanzania Petroleum Development Corporation each hold a 15 percent stake, and the China National Offshore Oil Corporation holds an eight percent stake. She also noted environmental groups had pressured Western lenders not to finance the project due to damage to the environment and concerns that funding a fossil fuel project could lead to climate change, adding that China had then stepped in to fill the gap.
Samuel Okulony, director of Uganda's Environment Governance Institute, which is also part of the #StopEACOP campaign, told VOA that new funding from Chinese financiers would raise questions about Xi's green pledges. But Ugandan environmentalist Okulony told VOA"there's no evidence across the continent of oil project-affected communities in Africa benefiting from the oil extracted in their regions. What has followed is plunging of communities into abject poverty."
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