After a 14-year suspension, the World Bank Group's private sector lending arm in collaboration with the International Finance Corporation (IFC) is considering returning to palm oil financing.

The two partners are offering syndicated loans of up to $350 million to develop palm oil plantations in Gabon under revised sustainability rules. Last Thursday, an IFC spokesperson said that the objectives of the loan proposal for Olam Palm Gabon SA “include supporting rural employment and the sustainable development of the Gabonese agricultural sector.” Indeed, the IFC announced that it would provide $150 million from its own account to the project, with the remaining $200 million to be syndicated to other lenders. The loan would also extend drip irrigation facilities to 20,000 hectares of plantation land and would include partial repayment of