Article
World Bank Criticized over Approval of Controversial Gold Mine in Ghana - NGOs to maintain pressure on IFC and Newmont to resolve community concerns
On January 31, 2006, the Board of Directors of the International Finance Corporation (IFC), the World Bank's private sector arm, approved loans amounting to USD $125 million for Denver-based Newmont Mining Company's controversial Ahafo gold mining project in Ghana. Ghanaian and international human rights and environmental NGOs had previously called on the IFC Board to postpone loan consideration until IFC and Newmont had fully addressed the project's human rights and environmental problems.