The World Bank's private lending arm has withdrawn a major loan to an agribusiness project in Brazil, according to Inside Climate News. The loan was for a feed mill that environmental advocates say is tied to deforestation. The decision is being hailed as a victory by those who campaigned against the financing.
Despite this setback, the broader trend remains concerning: development banks worldwide still provide funding for expansions of large livestock operations that emit significant greenhouse gases. The withdrawal is a single case, but it shows that advocacy pressure can influence lending decisions.