land grabbing

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Basically, since after the 2008 food price hike, the World Bank has been at the forefront of propagating private investments on lands with a win-win rhetoric that these deals would ensure food security for all as well as improve agricultural and living conditions in the host countries. Through its private sector arm – the International Financial Corporation(IFC) – and the Foreign Investment advisory Service (FIAS), the World Bank finances agro-investments, promotes and encourages policies aimed at cutting down on red tapes that could inhibit foreign direct investments in developing countries.
IFC primarily finances private sector investments. Following its conviction that the food crisis has provided an opportunity for agricultural development in emerging markets, it has tailored its response in two directions: transferring of technologies and know-hows to improve productivity and ensuring the use of unused or underutilised lands for agricultural productions. Accordingly, in the fiscal year ended in June 2008, its investments in the agribusiness was valued in excess of $1.3 billion. In 2009, it entered into a $ 625 million alliance with Altima Partners aimed at identifying “farming talents” in developing countries and helping in expanding farm production with the help of additional capital and the introduction of modern farm technologies. This is just one instance out of many; in fact, IFC Annual Report 2008 has it that the numbers of agribusiness projects supported by IFC moved from 17 in 2005 to 32 in 2008, just to show an idea of the rate at which its involvement in supporting agribusiness might be going. Less visible than financing private sector investment, perhaps, is IFC’s work of providing Technical Assistance and Ad...

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...y, investment, hedge funds or funds-of-funds of the same end.
In 2010 DEG/FMO/Swedfund was reported to have paid €258 million to lease 57,000 ha in Sierra Leone for 50 years to construct a sugarcane plantation, ethanol refinery and a biomass power generation plant which affected 13, 000 people; Norfund-Agrica rice farm projects in Kilombero Valley Tanzania involving about 5,000 ha threatened 2,000 villagers with relocation ; Norfund also invested NOK 64 million in Agri-Vie, a private equity investment fund focused on food and agribusiness in Sub-Saharan Africa whose controversial 20,000 ha New Forests Company project in Uganda has displaced over 20,000 people . These are very few examples of how DFIs around the world – Europe in this case - aid the proliferation of land grabs. Worst still is the fact that most of these investments involve shady financial deals.

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