Report Reveals Deutsche Bank and IFC Land Grabbing Scandal

“Rubber Barons,” a recent report released by the international NGO Global Witness links Deutsche Bank and the IFC (International Finance Corporation) to an upsurge in land grabbing that has been taking place in Laos and Cambodia since 2000. Cambodia and Laos have lost a reported 3.7 million Hectares of forestland to private Vietnamese companies financed by Deutsche Bank and the IFC – forty percent of which went to establishing rubber plantations. Many local inhabitants have lost their sources of subsistence and livelihood to these companies resulting in definitive food and water shortages. Attempts at protest have been trounced by the government’s rigorous commitment to safeguarding the companies. The report details instances of collusion with Cambodia’s elite, the clearing of protected national forests, forced seizures of land from inhabitants lacking any form of compensation or notice, and the roles that these financial giants play in supporting such activities.

Read the full report here.

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