Wednesday, September 01, 2010

NGOs trash World Bank framework for palm oil industry

The proposed World Bank/IFC Framework for the Palm Oil Sector is receiving negative comments from the NGOs who say the framework is weak and does not address the real problem.

See also here for the critics are saying.

In an interesting development, the Indonesian government has said that it will reject any loan offers from the World Bank/IFC for the palm oil industry. The government says it does not need loans from the World Bank/IFC. The government officials say the industry should continue to rely on loans from commercial banks.

Are they saying this as they don't want their companies to be subjected to more demanding World Bank/IFC framework?

Industry players on the other hand are hoping for that the World Bank will lift the financing ban and loans will start flowing again.

No comments: