Canada’s Desjardins Mulls Withdrawal From Kinder Pipeline Expansion

Canada’s Desjardins Mulls Withdrawal From Kinder Pipeline Expansion

Canadian lender Desjardins is considering backing out of its C$145 million ($113 million) commitment to Kinder Morgan Inc’s Trans Mountain pipeline expansion, two people present at a meeting with the financial institution told Reuters.

At the meeting last Thursday, Desjardins senior executives told aboriginal leaders the lender will consider their request to pull its financing for the C$7.4 billion ($6.1 billion) project, said Eugene Kung, a lawyer for the west coast Tsleil-Waututh Nation, who was at the event.

Desjardins is a minor lender for the project, but a potential pull back would go beyond an announcement in July when it temporarily suspended lending for future oil pipelines. Read More…

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