£600 million UK aid money financing ‘corporate scramble for Africa’

Economic Voice | 1 April 2014   

£600 million in UK aid money is going to a scheme to help big businesses increase their profits in Africa, a report by the World Development Movement reveals today. The campaign group has slammed the scheme as fuelling a ‘corporate scramble for Africa’. The UK government is channelling £600 million in aid to the G8-sponsored ‘New Alliance for Food Security and Nutrition’, claiming it will lift 50 million people out of poverty by 2022. But campaigners say the scheme is set to benefit multinational companies like Monsanto and Unilever at the expense of millions of small-scale farmers, and is likely to increase poverty and inequality on the continent. In return for receiving aid money and corporate investment through the New Alliance, the African countries involved have to change their laws, making it easier for corporations to acquire large tracts of farmland, control the supply of seeds, and ship agricultural produce to other parts of the world. The World Development Movement believes the scheme will lead to increased land-grabbing, higher costs for small-scale farmers, and the prioritisation of crops for export instead of to feed local populations…. http://www.farmlandgrab.org/post/view/23346#sthash.GwiTwGpe.dpuf

 

 

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