Invests US $4 billion to lease land in Ethiopia
INDIA is leasing land in Ethiopia to grow food to meet its domestic demand and boost exports. The government invested US $4 billion (Rs 19,000 crore) on agriculture, horticulture and sugar estates in the African country where land is cheap.
This is a fallout of the economic crisis and jump in food prices, said US-based research agency, the International Food Policy Research Institute (ifpri), in its policy brief. Indian analysts have criticized the move. "Leasing land in Africa doesn't make economic sense especially because its political situation is unstable," said Himanshu, assistant professor with Jawaharlal Nehru University, New Delhi.
|Rich countries rush for cheap land in Africa|
|Target country||Investor country||Nature of deal||Status|
|Sudan||UAE||30,000 ha for alfalfa, wheat, potatoes, beans||Being implemented|
|Zambia||China||2 million ha for jatropha (biofuel)||Requested Zambia for land|
|Turkey||Bahrain||US $500 million investment in agriculture||Deal signed|
|Sudan||Jarch Capital (pvt US company)||400,000 ha in southern Sudan||Signed|
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