BayernLB withdraws from follow-on financing for Dakota Access Pipeline (DAPL)

BayernLB has been closely and critically monitoring the current debate concerning the route of the DAPL and the protests at the construction site. Furthermore, the Bank continues to engage in a constructive dialogue with German and international environmental and human rights organisations. As a member of the syndicate financing the pipeline, it has been using its influence wherever possible to achieve an outcome to the talks that is satisfactory to all parties involved. Independently of this, BayernLB has decided to exit the financing at the earliest date possible under the loan agreement and to not participate in the upcoming next round of financing.