#BDS: Belgian Bank excluded for involvement in Israel
"08-03-2011 | Belgian bank Dexia has been excluded from the Triodos sustainable investment universe because of its ongoing financing of Israeli settlements in the Occupied Palestinian Territories.
Dexia in Israel
Dexia Israel Bank (DIB), a subsidiary of Dexia, has financed Israeli settlements in the past. In response to shareholder and stakeholder pressure, DIB stopped new loans to Israeli settlements in June 2008. There are also indications that current loans are being withdrawn, although the longest maturity loan in the portfolio will not end until 2017. DIB’s actions have caused uproar in Israel and a regional council major in southern Israel called for a DIB boycott.
Despite the freeze on new loans and withdrawal by DIB, the bank still has loans outstanding to the Municipality of Jerusalem. Jerusalem lies at the heart of the occupied territories and since 1967 East Jerusalem has been under Israeli government rule. Settlements have been established for Jewish Israeli occupants only and settlers receive substantial financial benefits, as well as access to land and natural resources in the disputed territory. By financing the municipality, DIB loans are potentially being used to finance human rights abuses against Palestinians in East Jerusalem."