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The World Bank has been forced to backtrack on a controversial investment in Corporación Dinant, a palm oil company implicated in serious human rights abuses in Honduras. The Bank’s private-sector lending arm the International Finance Corporation (IFC) today admitted errors and promised to ‘refine’ its action plan and ‘reflect on’ internal problems that led to mistakes.
Oxfam applauds the World Bank's new strategy to halve extreme poverty by 2020 and end it by 2030, but swift action is now needed to bring the strategy to life.
The strategy to end extreme poverty and support inclusive growth is an important milestone for the World Bank and Oxfam welcomes Jim Kim’s vision and commitment.