Parliament supports SP call for ban on investment in cluster bombs

8 December 2009

Parliament supports SP call for ban on investment in cluster bombs

Investment in cluster munitions by Dutch financial institutions is to be banned. Parliament today supported a motion to that effect proposed by SP Member of Parliament Krista van Velzen. The motion will be binding on the government. “It's a fantastic success that Parliament, after years of pressure, has had the courage to take this step. Banks and pension funds will no longer be allowed to put money into firms which make cluster bombs."

Krista van VelzenThe SP has campaigned for many years to have such a ban introduced. Not only in Parliament, but also through demonstrations and other actions against the banks which invest in these armaments. Because of this most banks have already adjusted their policy in relation to cluster bomb manufacturers, but there remain a number of financial institutions, believed to be no fewer than three and no more than six, which continue to invest in these firms.

“Today's decision in favour of a ban will put an end to this," says Van Velzen. "That's really good news, but this isn't the whole picture and we aren't there yet. The next step is for the Netherlands to urge other countries not only to ban cluster munitions but also to make it impossible for manufacturers to continue to receive funds from financial institutions."

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