Last March, the World Bank withdrew a loan facility of $100m when a water-management contract was dubiously awarded; Britain may withdraw money for a similar project.
The International Finance Corporation, the private-finance arm of the World Bank, withdrew a loan it had promised to Bertin, a big beef producer, to expand its facilities in the Amazon.Mr Demachki persuaded local trade associations to commit to stopping deforestation.
Borrowers also have the option of withdrawing a loan request before it receives full (or 70%, when applicable) funding.
The announcement this month that the big Düsseldorf bank Westdeutsche Landesbank Girozentrale, or WestLB, would continue financing the project, despite an international campaign pressuring it to withdraw a $900 million loan, appeared to remove the last hurdle for the builders of the $1.3 billion pipeline.
We believe there is a market here, and we believe we can make a great contribution to the city of Carson". Among setbacks Feinberg has cited was a decision by one of his lenders to withdraw a major loan because the lender decided that Carson is not a suitable location for a Hilton development.
The bogus missive on ANZ letterhead claimed the bank had withdrawn a $1.2bn loan from Whitehaven because of concerns about environmental damage and dislocation of farmers.
The articles, on November 3 and 10, claimed Hollinger's bankers in Toronto, TD Securities, had withdrawn a £224m loan and £32m credit facility after becoming worried about the company's level of debt.
It's 20 years since the US last imposed any real price on settlement activity, with Bush the elder's threat to withdraw loan guarantees – a threat, incidentally, which prompted the Israeli electorate to eject the Likud and install Rabin as PM.
They allow the lenders to automatically withdraw monthly loan payments from borrowers' checking accounts through an electronic transfer system known as A.C.H., or Automated Clearing House.
