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Let's talk about the World Bank for a minute. In what seems like the most recent example of its actions and stated goals not matching up, the bank has cautioned poor countries about the dangers of land-grabbing, but then went ahead and endorsed the practice anyway.
To back up a little for context, an international controversy has been stewing for the last couple years over the increasing practice of land grabs in poor countries—foreign governments and companies purchasing or leasing vast areas of farmland for food production or for biofuels.
As the Financial Times explains, it's a "trend in which countries or their proxies invest in overseas land to boost their food security. It gained notoriety after an attempt in 2008 by South Korea’s Daewoo Logistics to secure a large chunk of land in Madagascar for a very low price and vague promises of investment."
Now, the bank has issued a report, “Rising Global Interest in Farmland: Can It Yield Sustainable and Equitable Benefits?” that warns about the risks of land grabs for poor countries—including limited recognition of local rights and a "highly centralised approval processes." It also says, "the fact that there appears to be significant interest in countries with weak governance implies that the risks associated with such investments are immense."
Yet the report goes on to endorse the buying-up of land: “When done right, larger-scale farming can provide opportunities to poor countries with large agricultural sectors and ample endowments of land." The bank issues a recommended code of conduct for investors—but from natural resources to mineral industries, we know how well voluntary regulation works. (Not very.)
Plus, good deal or bad, there's the fundamental question of whether poor countries will benefit from selling off large tracts of fertile land, or if they would be better off using it to increase economic self-sufficiency—which, after all, is supposed to be one of the World Bank's main goals.
More about the World Bank and global food politics:
World Bank Clueless On Climate Impacts Of Its Loans
Project Censored: Four Of the Year's Most Important Environment Stories That You Probably Haven't Read
The Emerging Politics of Food Scarcity
