Banks have invested in the production of cluster bombs

According to the report of the Belgian and the Netherlands NGO IKV Pax Christi and Netwerk Vlaanderen, 166 financial institutions in the world continue to invest in ammunition prohibited by international conventions. As reported by the Swiss edition Nasha Gazeta.ch on Monday, May 30, citing a report "Global investment in cluster munitions, a general liability» (Worldwide investments in cluster munitions: a shared responsibility), including 166 banks from 15 countries, found guilty the funding of eight major producers of cluster bombs, were the Swiss banks UBS and Credit Suisse. According to the report for 2011, part of the Swiss banks was associated with the manufacturers of cluster bombs, the largest of which, according to the report: ATK Alliant Techsystems (USA), Hanwha (South Korea), Lockheed Martin (USA), Norinco (China), Poongsan (South Korea), Singapore Technologies Engeneering (Singapore), Russia's "Fusion" and the American Textron. A total of 166 financial institutions in the world have invested in the production of banned weapons $ 39 billion cluster bombs - ammunition consisting of dozens of separate elements, such as air-mines, antipersonnel or antitank bombs, some of which explode when used, and the rest remain on the ground and explode on contact . Initially, American manufacturers covered cluster munitions bright color to facilitate the work of engineers, not taking into account the fact that the colored elements have attracted the attention of children who become victims of bombs. The first treaty banning cluster munitions, was signed in Dublin in 2008. On August 1, 2010 entered into force on the international convention banning the use, as well as any assistance to the production of cluster munitions. Convention, signed in Oslo, currently ratified by 57 states. The biggest producers of cluster bombs - the U.S., China and Russia - have not signed the agreement. As the source, the formal ban on "promoting the production of" cluster munitions available; it leaves full freedom of action for cooperation with companies producing weapons, granting them loans or any other financial services.