The Cambodia Herald -- The commercial relationship between Australia and New Zealand Banking Group Ltd and Cambodia's Phnom Penh Sugar has come to an end, The Australian reported Saturday.
The newspaper said "pressure applied by the bank over the group’s poor social and environmental record" resulted in the sugar plantation business refinancing with another lender.
ANZ Royal Bank, which is 55 percent-owned by ANZ, had provided a loan worth "tens of millions of dollars" to help Phnom Penh Sugar fund a new plantation and refinery, it said.
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