Financial Institutions Involved in The Process of Production of Cluster Munition
According to BankTrack, an international network of NGOs specializing in control of financial institutions, many major banks and other financial corporations either directly financed, or provided financial services to companies producing cluster munition in 2005-2012. Among other, BankTrack 2012 report names ABN AMRO, Bank of America, Bank of China, Bank of Tokyo Mitsubishi UFJ, Barclays, BBVA, BNP Paribas, Citigroup, Commerzbank AG, Commonwealth Bank of Australia, Crédit Agricole, Credit Suisse Group, Deutsche Bank, Goldman Sachs, HSBC, Industrial Bank of China, ING Group, JPMorgan Chase, Korea Development Bank, Lloyds TSB, Merrill Lynch, Morgan Stanley, Royal Bank of Canada, Royal Bank of Scotland, Sberbank, Société Générale, UBS, Wells Fargo.
Many of these financial companies are connected to such producers of cluster munitions as Lockheed Martin, Textron, Raytheon, Rheinmetall, Thales Group, Singapore Technologies Engineering, and others.
According to Pax Christi, a Netherlands-based NGO, in 2009, around 137 financial institutions financed cluster munition production. Out of 137 institutions, 63 were based in the United States, another 18 in the European Union (the UK, France, Germany, Italy etc.), 16 were based in People's Republic of China, 4 in Singapore, 3 in each of: Canada, Japan, Taiwan, 2 in Switzerland, and 4 other countries had 1 financial institution involved.
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