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IPFS News Link • Ecuador

Development Banks Fund Factory Farming in Ecuador

• By Kenny Stancil

Multilateral development banks' financing of factory farms has unleashed significant social and ecological harm in Ecuador, according to a report published this week.

Civil society groups say the banks' failure to consult or compensate affected Indigenous communities violates Ecuadorian law and their own policies.

Over the past 20 years, the International Finance Corporation (IFC) and IDB Invest, respectively the private sector branches of the World Bank Group and the Inter-American Development Bank (IDB) Group, have collectively poured more than $200 million into the expansion of PRONACA, Ecuador's fourth-largest corporation and by far its biggest pork and poultry producer.