Indonesia accused of bailing out firms involved in illegal logging

Forestry experts and the World Bank have accused Jakarta of bailing out indebted logging and pulp companies that are busily felling Indonesia's forests and using huge amounts of illegally logged timber to stay afloat. The World Bank said yesterday it will urge Indonesia not to sell these firms that are operating either illegally or inefficiently in a fire sale of indebted companies. The World Bank says that the Indonesian Bank Restructuring Agency (IBRA) has sold at least 12 timber companies - many of which are suspected of sourcing their timber illegally - for a fraction of their value.