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German Bank Won’t Lend to CO2 Project, CDM Watch Says

DEG Deutsche Investitions- und Entwicklungsgesellschaft mbH, a German development bank, won’t pay out on a loan to the owner of an emissions-cutting project in Honduras, said CDM Watch, the Bonn-based environmental lobby.

The bank last week “declared that it will not pay out an already approved loan to Grupo Dinant, the value of which Dinant owner Miguel Facusse reportedly put at $20 million,” CDM Watch said today in an e-mailed statement. Cordula Rinsche, a spokeswoman for DEG in Cologne, Germany, didn’t immediately respond to a voice mail message and e-mail seeking comment.