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November 14, 2007

Namesake of Barclays Center in Brooklyn Said to Be Bankrolling Mugabe's Corrupt Zimbabwe Regime

From McBrooklyn:

The Sunday Times of London reports that Barclays Bank (as in Barclays Center, the proposed home of the Brooklyn Nets) is bankrolling President Robert Mugabe's corrupt regime in Zimbabwe by providing "substantial loans to cronies given land seized from white farmers."

From the Times article:

"BARCLAYS is bankrolling President Robert Mugabe’s corrupt regime in Zimbabwe by providing substantial loans to cronies given land seized from white farmers. The British bank lent £750m to the country’s new landowning elite in the first half of this year, mostly through a government scheme to boost farm productivity. This weekend Barclays was under pressure to say whether it had lent money to five of Mugabe’s ministers — each named in European Union sanctions."

Thanks to Gowanus Lounge for passing the news along.

NoLandGrab: Now that makes TWO LAND GRABS that Barclays Bank is supporting. Could that be the new thing for which the bank wants to be remembered?

Posted by lumi at November 14, 2007 5:36 AM