The International Finance Corporation (IFC) is to offload its shares in Olam International following allegations of environmental malpractice in DR Congos forestry sector by the Singapore-based global commodities trader.
The World Banks private sector financing arm said this weekend that its decision to drop its 3,35 per cent equity stake, worth up to 7,5 million US dollar, was due to “policy considerations” and nothing to do with the companys financial position.
Last week, the IFC said it was reviewing its relationship with Olam following allegations by environmental groups that the company was sourcing timber illegally in the DR Congo (former Zaire).
Kilde: www.worldbank.org
