World Bank

IFC to invest $200 mln in Africa agribusiness

The International Finance Corporation, the World Bank's private sector lending arm, will nearly double its investment in agribusiness in Africa to $200 million during the 2009 fiscal year, a senior official said.

Agri investments must help, not hurt: World Bank

Growing interest from Asia and Middle East countries to lease agricultural land in Africa "is not a bad thing" but must be handled properly and in a transparent way, a top World Bank official said on Thursday.

IFC to invest in new agribusiness fund

The International Financial Corp, the World Bank’s private-sector lender, said on Thursday it will invest $75 million in a new agribusiness fund to increase global food supplies. IFC said it had joined forces with Altima Partners, which manages the $625 million Altima One World Agricultural Fund, to create a fund to invest in farming operations and agricultural land in emerging market countries.

Accelerating into disaster – when banks manage the food crisis

As the vicious food price crisis deepens, transnational companies are moving into southern countries on a huge scale and starting to capture millions of hectares of land in order to bring agricultural production further under their control for industrial agrofuel and food production for the international market. Millions of peasants will be pushed out of food production, adding to the hungry in the rural areas and the slums of the big cities. The few that remain will work under full control of the transnational companies as workers or contract farmers.