EURASIA LIFT

Human Rights Issues in Eurasia / Правовые Вопросы В Регионах Евразии

Scotland Bank Agrees With Human Rights Groups And EndS Work For Belarus

Posted by Info on 29/08/2011

Royal Bank of Scotland has said it will no longer do fundraising work for the Belarus government following a campaign by human rights groups which argued that companies such as RBS were helping to support the regime of “Europe’s last dictator”.

“Given sanctions, the deteriorating political situation in Belarus and the fact that it has reneged on key elements of the IMF programme, RBS has ceased any type of capital-raising for or on behalf of the Belarus Republic, and we have no plans to change that position until these issues have been resolved,”
said RBS in a statement.
RBS has sent a clear signal not to risk investing in an regime that violates fundamental human rights and may not last”

Belarus is facing an economic crisis and is in talks with the International Monetary Fund about a possible loan, but the organisation wants to see major changes in the economy before extending financial help.

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