According to Human Rights Watch, the World Bank’s private investment firm, International Finance Corporation (IFC), lent $15 million to Corporacion Dinant, a Honduran food company, despite indications that it was forcing people off their own land and controlled security forces that engaged in multiple killings.
“The IFC loaned millions of dollars to a project, even though it was known that its operations were already enmeshed in killings and other violence,” said Jessica Evans, senior international financial institutions researcher and advocate at Human Rights Watch. “As President Kim urges World Bank staff to take on riskier investments, the Dinant case should serve as a warning about the pitfalls of investing without proper oversight.”
The CAO found that IFC staff had underestimated risks related to security and land conflicts, and that they did not undertake adequate due diligence even though the situation around the project and the risks had been raised publicly. Nor did IFC project staff inform other IFC specialists on such environmental and social risks about the problems that they knew were occurring.
The investigation stemmed from allegations that Dinant conducted, facilitated, or supported forced evictions of farmers in Bajo Aguán, Honduras, and that violence against farmers on and around Dinant plantations in the Bajo Aguán, including multiple killings, occurred because of inappropriate use of private and public security forces under Dinant’s control or influence.
The CAO found that the IFC did not, as its policy requires, adequately oversee Dinant’s obligations to investigate credible allegations of abusive acts committed by the company’s security personnel or to sanction the use of force that goes beyond “preventative and defensive purposes in proportion to the nature and extent of the threat.”
Read the whole report here. See here, here, and here to read about detrimental U.S. policies towards Honduras that contribute to the kind of atmosphere in which government-allied corporations abuse the people and security forces engage in killings with impunity.
If you were wondering why Obama backed the coup in 2009 that overthrew Honduras's democracy and installed a right-wing fascist dictatorship into power, above is your answer.
More of Obama's record of depravities:
http://empireslayer.blogspot.com/2013/11/obama-su…
The USA has a long history of installing and supporting fascist dictatorships in Honduras for the benefit of US and multinational corporations that benefit from the Honduras dictatorship destroying social gains like minimum wages and limits on working hours.
Honduras was making gains in these areas until the 2009 Obama-backed fascist coup.
Fascism: the welding of private corporations and state power.
Once again, things like this explain why there are so many illegal immigrants. Now, humans should have the freedom of movement, and almost everyone wins with immigration, and legalizing immigration maximizes those wins… but still, nobody should be *forced* to migrate because powerful outside forces are making life impossible locally.
Wrong. Unrestricted and illegal immigration form the third world into White nations causing the demographic genocide of Whites is a very bad thing.
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IFC, World Bank and the IMF report to the US Treasury.
Name me one – I repeat: one – country that has benefited from the policies and financial management of the IFC, WB and the IMF!
Incompetence rewarded. I heard the World Bank promoted the manager of this project to become the head of risk management globally.
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