World Bank to let axe fall on rainforests

  • 08/01/1998

  • Economic Times (New Delhi)

The World Bank, the world's leading investor in forest projects in developing countreis, says it aims to clean up the global timber industry but is fuelling fears that it wants to start financing operations in tropical rainforests. Bank president James Woldfensohn meets leading international loggers and hand-picked environmental groups tomorrow to chart the lending agency's future course as a champion of 'sustainable' or 'low-impact' logging.