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Mon 06 Jun 2009World Bank loan withdrawn from Brazilian cattle corporation
THE INTERNATIONAL Finance Corporation (IFC), private lending arm of the World Bank, has withdrawn a $90 million (€57 million) loan to Brazilian cattle industry giant Bertin, following complaints that it was using the money to expand further into the Amazon region.
“It is good news that the World Bank is withdrawing these funds, yet scandalous that it was feeding a company that causes Amazon deforestation and climate change in the first place,” said Paulo Adario, Greenpeace Brazil’s Amazon campaign director.
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