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(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab -The Oakland Institute

(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab -The Oakland Institute

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(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab, is a is a publication of the Oakland Institute (www.oaklandinstitute.org), an independent policy think tank whose mission is to increase public participation and promote fair debate on critical social, economic, and environmental issues.

For more information or to speak to the author(s), please contact Anuradha Mittal (510) 469-5228; amittal@oaklandinstitute.org

(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab

“Africa needs investment in agriculture—better seeds and inputs, improved extension services, education on conservation techniques, regional integration, and investment to build local capacity. It does not need policies that enable foreign investors to grow and export food for their own people to the detriment of the local population. I’ll be even bolder—such policies will hurt Africa, fueling conflict over land and water…Africa is not a commodity. It must not be labeled “open for business.”

-– Howard G. Buffett, Foreword, (Mis)Investment in Agriculture

(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab, exposes the role of the World Bank’s private sector branch, International Finance Corporation (IFC), in fueling land grabs, especially in Africa.

Following the 2008 food and financial crises, World Bank was to play a central role in what was intended to be a massive overhaul in international food policy and a vast improvement to food security in the developing world. Evidence, however, reveals that World Bank Group policies and efforts are doing just the opposite. IFC is promoting “products” – such as the ‘Access to Land’ and the ‘Land Market for Investment’ whose purpose is to open land access to investors. Further more the creation of “investment promotion agencies” and rewriting of national laws, has provided the institutional back up for such investments. In doing so, it has overlooked the urgent problem of hunger that persists in client countries, and lost sight of its principle mission, which is to alleviate poverty.

(Mis)Investment in Agriculture concludes that the promotion of investor access into developing country land markets threatens local food security, displaces local populations, and therefore operates in direct violation of IFC’s Performance Standards as well as several UN Human Rights Conventions. The Report contends that it is crucial that IFC be investigated and held accountable for the land grabs promoted by its technical assistance and advisory services. World Bank’s current practices that promote land grabs must be stopped in order to protect the food security and livelihoods of the world’s most vulnerable populations.

(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab, is a is a publication of the Oakland Institute (www.oaklandinstitute.org), an independent policy think tank whose mission is to increase public participation and promote fair debate on critical social, economic, and environmental issues.

For more information or to speak to the author(s), please contact Anuradha Mittal (510) 469-5228; amittal@oaklandinstitute.org

Download the Report

http://www.oaklandinstitute.org/?q=node/view/555
(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab, is a is a publication of the Oakland Institute (www.oaklandinstitute.org), an independent policy think tank whose mission is to increase public participation and promote fair debate on critical social, economic, and environmental issues.

For more information or to speak to the author(s), please contact Anuradha Mittal (510) 469-5228; amittal@oaklandinstitute.org

(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab

“Africa needs investment in agriculture—better seeds and inputs, improved extension services, education on conservation techniques, regional integration, and investment to build local capacity. It does not need policies that enable foreign investors to grow and export food for their own people to the detriment of the local population. I’ll be even bolder—such policies will hurt Africa, fueling conflict over land and water…Africa is not a commodity. It must not be labeled “open for business.”

-– Howard G. Buffett, Foreword, (Mis)Investment in Agriculture

(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab, exposes the role of the World Bank’s private sector branch, International Finance Corporation (IFC), in fueling land grabs, especially in Africa.

Following the 2008 food and financial crises, World Bank was to play a central role in what was intended to be a massive overhaul in international food policy and a vast improvement to food security in the developing world. Evidence, however, reveals that World Bank Group policies and efforts are doing just the opposite. IFC is promoting “products” – such as the ‘Access to Land’ and the ‘Land Market for Investment’ whose purpose is to open land access to investors. Further more the creation of “investment promotion agencies” and rewriting of national laws, has provided the institutional back up for such investments. In doing so, it has overlooked the urgent problem of hunger that persists in client countries, and lost sight of its principle mission, which is to alleviate poverty.

(Mis)Investment in Agriculture concludes that the promotion of investor access into developing country land markets threatens local food security, displaces local populations, and therefore operates in direct violation of IFC’s Performance Standards as well as several UN Human Rights Conventions. The Report contends that it is crucial that IFC be investigated and held accountable for the land grabs promoted by its technical assistance and advisory services. World Bank’s current practices that promote land grabs must be stopped in order to protect the food security and livelihoods of the world’s most vulnerable populations.

(Mis)Investment in Agriculture: The Role of the International Finance Corporation in the Global Land Grab, is a is a publication of the Oakland Institute (www.oaklandinstitute.org), an independent policy think tank whose mission is to increase public participation and promote fair debate on critical social, economic, and environmental issues.

For more information or to speak to the author(s), please contact Anuradha Mittal (510) 469-5228; amittal@oaklandinstitute.org

Download the Report

http://www.oaklandinstitute.org/?q=node/view/555

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Published by: Permaculture Cooperative on May 12, 2010
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 (Mis)investMent in Agriculture
The Role of The InTeRnaTIonal fInance coRpoRaTIon In Global land GRabs
foRewoRd by howaRd G. buffeTT
 
 (Mis)investMent in Agriculture
The Role of The InTeRnaTIonal fInance coRpoRaTIon In Global land GRabs
 
sr di it ar Mittfrr  hr G. btt
 
Acknowledgments
Ti rrt  rr  sr di r t irti  ar Mitt.T o Ititt i  ritiv  t rt rvi  t crit f  t iivimmr  t o Ititt tt m ti iti i. frri M  cr pr t ttim t rvi mmt  t rt  t rrt.w t t g GRaIn (.gri.rg) r it triti i ig t i   gr trg it2008 iti
Seized: The 2008 Land Grab for Food and Financial Security.
lt,  r  grt t t t t Itrti atiit prjt (.tiitrjt.rg) rtir mrri  it it ti rjt.T vi r r t  t o Ititt .dig: amm Gri dig, mm@gmi.m, mm.meitr: ar Mittptgr crit: w r grt t hr G. btt, Ji o’d,  fao r t  i ti rrt.cvr pt: © fao/ar bttipir: T o Ititt i  i ti t it t vig i rtiiti  ir t riti i, mi,  virmt i.crigt © 2010  T o ItittT tt m   r  rg r t r  v, migig, ti,  rr, rvitt t r i g i . T rigt r rqt tt     rgitr it tm rimt mt r. fr ig i  tr irmt, r- i tr iti, r trti rtti, rmii mt  r. p mi i@ititt.rg.
The Oaland Institte
po b 18978o, ca 94619, usai@ititt.rg.ititt.rg

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