Norway 'invests in illegal Israeli settlements in the West Bank'

Date: 27 / 03 / 2009 Time: 08:26
Bethlehem – Ma’an –

In 2008 the Norwegian Government Pension Fund invested 5.5 million NOK (860,000 US dollars) of tax money in the Africa-Israel investment company, which has been linked to the Israeli settlement industry.

The company has built and continues to build illegal settlements in the occupied West Bank through its subsidiary construction firm Danya Cebus. Among the illegal settlements are Har Homa in Bethlehem and Ma’aleh Adumim near East Jerusalem.

The company also controls the real estate company Anglo Saxon that offers houses and apartments for rent and sale in illegal Israeli settlements.

The Norwegian State Pension Fund also invested in the House and Construction Group, which is involved in building the separation wall, according to a statement from the Joint Advocacy Initiative.

The ethical guidelines of the Norwegian Government Pension Fund prohibit any investments in unethical areas, or that may be in contradiction with human rights, gross corruption or severe environmental damages, the JAI said in the statement.

The Council of Ethics for the Norwegian Government Pension Fund was in January of this year asked by the minister of finance, Kristin Halvorsen, to evaluate all of the fund investments in companies involved in Israel and the occupied Palestinian territories. So far, no divestment has been initiated, according to the group.

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