The funds will be used for the procurement of specific agri-commodities from smallholder farmers in Vietnam, Indonesia, Timor-Leste, Papua New Guinea and Uganda as well as the expansion of Olam’s cocoa processing facility in Indonesia.
SOCFIN's subsidiary, the Salala Rubber Corporation, rejects dispute resolution with 22 communities in Liberia who filed a complaint with the IFC's Compliance Advisory Ombudsman, citing concerns with the "partiality of CAO’s team".
The Liberian Observer has reliably gathered that the International Finance Corporation has tabled all SRC’s loan application processes pending full scale investigation into a recent complaint filed against it by 22 indigenous Liberian communities.
Payoff follows mediation by the dispute resolution office of the World Bank’s IFC but of the 36 farmers who were compensated, eight later rejected the deal and are expected to take their case to court this month
IFC, a member of the World Bank, will provide US$50 million to the Argentine subsidiaries of Adecoagro S.A., a company backed by billionaire George Soros, to support resource-efficient farming and food processing technologies