The Banana Republic Fund

The World Bank was blasted again this again for not putting enough consideration into environmental and social consequences before it lent tens of millions of dollars to Honduras’ largest bank:

The IFC approved $70 million for Ficohsa in 2011 despite the bank’s risky operating environment and clients, including a palm oil company linked to multiple killings and drug trafficking, the IFC’s Office of the Compliance Advisor Ombudsman (CAO) said in the report. … Human rights groups have accused Dinant and its guards of human rights violations, including killings and forced evictions of peasants occupying disputed land.

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