Despite their due diligence, Rabobank missed the fact that they were buying land in a village racked with corruption and land rights abuse, and from sellers deeply involved in murky business.
A small and poor village in Romania has become the focus of a story involving land grabbing by foreign-owned multinationals and mafia-style corruption.
China's appetite for offshore investment in food and agriculture is expected to rebound from a lull that has delayed some deals, given strong interest to meet growing domestic demand, a leading banker said.
Investigation finds Rabobank acquired farmlands in Romania that had been sold without the knowledge or consent of the farmer owners.
European banks and investors are a major source of finance for large-scale destructive agriculture; forestry; and pulp and paper projects.
Presentation in Amsterdam
The three parties expressed their intention to strengthen the co-operation in the field of reshaping and draining agricultural land belonging to Rabo Farm in the Zulawy delta in the North of Poland, close to Gdansk.
This year Rabo Farm's first fund, with a size of € 315 million, will be fully subscribed, and a new fund, the Rabo Farm Europe Fund II, will be launched.
European banks and pension funds continue to finance one of the largest and most destructive palm oil giants Wilmar International, according to new research released today by Friends of the Earth Europe.
Het Maleisische palmoliebedrijf Wilmar is wereldwijd op grote schaal betrokken bij landroof, milieuovertredingen en schending van nationale wetten bij palmolieprojecten.
An increasing number of investors are looking at their feet as they cast around for returns in a zero interest rate environment. Farmland is likely to become a more and more attractive asset class as food scarcity worsens and land becomes a precious commodity.
Islamic Development Bank and Rabobank team up to launch fund that intends to invest 5-10% of its funds in global farmland.
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CAR offers land ownership using cryptocurrency
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