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Instability affecting mining loans

Chase Manhattan Bank will not lend money to foreign mining companies in the DRC, possibly for the next two or three years, due to the unstable political situation, Reuters said yesterday. “We’ve been asked to take a look at projects in the Congo and...the answer is no,” Reuters quoted a senior bank official as saying in Johannesburg. Chase Manhattan Bank was the world’s biggest lender to mining projects in 1997.

This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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