News we missed in April: "Brazil banks sued for Amazon deforestation"

[Judi Lynn]

1 April 2011 Last updated at 20:56 ET
Brazil banks sued for Amazon deforestation

Brazil's biggest bank - the state-run Banco do Brasil - is being sued for allegedly funding deforestation in the Amazon.
Public prosecutors say the bank lent money to companies that illegally cleared the rainforest and used labour practices bordering on slavery.

~snip~
Brazil says it has drastically reduced the rate of deforestation in the Amazon in recent years.

Prosecutors in the state of Para said they had uncovered 55 loans worth nearly $5m (£3m) that the Banco do Brasil approved to farms that had broken environmental and employment laws.

~snip~
The loans violated Brazil's constitution, environmental laws, banking regulations and international agreements signed by Brazil, the independent prosecutors at the Public Ministry said.

More:
http://www.bbc.co.uk/news/world-latin-america-12944239