The victims of Ly Yong Phat’s Phnom Penh Sugar Company development project in Kampong Speu province’s Oral district said they are “happy” to hear that ANZ Bank had declared to the Australian Parliamentary Committee that it would consider compensating those affected by the project.
ANZ executive director Shayne Elliot said during an October 26 Australian Parliamentary Committee conference that the bank had provided financing to build a refinery, not to seize plantation land.
“The bank will consider compensation for the affected. The profit on something like that would have been quite [minimal], but that doesn’t mean we shouldn’t do the right thing,” Elliott said.
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