World Bank to resume funding palm oil projects

The World Bank has toughened up its palm oil investment criteria but has failed to adopt mandatory certification

The World Bank has published its palm oil strategy ending a moratorium on investment since September 2009.1

The bank used the 18-month hiatus to review its lending practices and consult stakeholders (ENDS Report 424, p 27).

The ban followed complaints in 2007 by Indonesian smallholders and indigenous groups over palm oil plantations owned by Wilmar International, part financed by the International Finance Corporation (IFC), the World Bank’s private investment arm.

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