Editor’s note: Michael Kugelman is the senior program associate for South and Southeast Asia at the Woodrow Wilson International Center for Scholars and lead editor of The Global Farms Race. You can follow him @michaelkugelman. The views expressed are his own.
This week in Washington, the World Bank is hosting its annual conference on land and poverty. The Bank has identified improved land governance as this year’s theme. It’s a wise decision, given that poor land governance in developing world agricultural settings has spawned a destabilizing global trend – one fueled, in part, by financial support from the Bank itself.
In recent years, food-importing regimes from Asia and the Gulf, spooked by high food prices and lacking the land and water resources to grow crops at home, have obtained land overseas to use for agriculture. Private investors from the U.S., Europe, and Asia, recognizing the profit potential of precious agricultural land, have joined this scramble for the world’s soils. Nearly $30 billion in private capital is projected to be invested in farmland by 2015, and pension funds and asset managers have recently joined forces to attract even more capital for farmland financing.
Read the full story - The global farm grab is on - on the Fareed Zakaria GPS blog.