13 January 2014

World Bank’s loan to company engaged in violent conflict in Honduras is criticised

The World Bank ombudsman criticised the International Finance Corporation, which provides loans to companies in developing countries, for failing to follow requirements when it approved a loan to Corporación Dinant, a Honduran palm-oil company, in 2009 and inadequate supervision afterward. Dinant is in violent conflict with farm workers over land tenure of the Bajo Aguán Valley, where Dinant is the largest single landowner. Almost 100 people have been killed since 2009 in Bajo Aguán, according to the country’s human rights commissioner, Ramón Custodio. (more…)

Source: The New York Times | World Bank Is Criticized for Honduran Loan