In 2001, APP was involved in what was then Asia’s biggest corporate debt default - US$13.9 billion. As part of a restructuring debt agreement it reached with its creditors, APP had the legally binding obligation to develop sustainable forestry operations and pulp and paper production. A recent report4 revealed that APP began clearing the forest just three years after signing this agreement, swallowing one-third of the forest that APP committed to protect. The letter is calling on governments not to fund a new pulp mill proposed by Asia Pulp and Paper (APP), one of the world's most controversial pulp and paper companies. Expanding APP’s production capacity further will inevitably lead to further deforestation, and to increased violations of the terms of its environmental covenants with ECAs.APP has historically been supported by European Export Credit Agencies2 (ECAs) and the letter requests that they end support for all business developments linked to deforestation in Indonesia and elsewhere. The letter is signed by more than 30 environmental non-governmental organisations (NGOs), including all members of ECA-Watch, Greenpeace and WWF. It has been delivered to ECAs from Finland, Denmark, Sweden, Austria, Germany, Italy, Spain and France.