South Korea, through the Korean Economic Development Fund, has extended a $50 million (about Sh65 billion) loan to the Rufiji Basin Development Authority (Rubada). About 100,000 hectares of land have been set aside for modern rice farming under the project.
Los capitalistas conquistan los recursos de la naturaleza mundial mediante la guerra o la compra.
The Government has ordered 2000 squatters out of land meant for large-scale paddy farming in Kilombero district, Morogoro region.
An Afro-Arab agriculture conference on farm investment, which was to take place in Zanzibar, has been cancelled due to the Tanzanian governmnt's 11th hour refusal to host it.
The government of Tanzania has refuted media reports indicating that it has leased out 1000 square kilometres of farmland to South Koreans.
The Korea Rural Community Corporation, under the Agriculture Ministry, said it is also in talks with other resource-rich countries about deals in exchange for support for the construction of agricultural infrastructure or farms. Among the negotiating partners mentioned were Indonesia, Laos, Myanmar, Senegal and Mongolia.
"This land [100,000 ha] is not meant to be leased to the Koreans as such, but a mechanism will be worked out on how the land must be processed," said a spokesperson for Tanzania's prime minister.
South Korea will develop 100,000 ha of farmland in Tanzania to make inroads into African and European markets, a state-run rural development corporation said Thursday.
Tanzania has offered to lease land to Indian private companies for a period of 99 years, as it pitched for increased investment in the agricultural sector.
What started as a government drive to secure cheap food resource has now become a viable business model and many Gulf companies are venturing into agricultural investments to diversify their portfolios.
A conference to discuss ways of boosting agricultural production in Africa will be held in Zanzibar later this month
An internal document recently posted on IRRI's website reveals that the Institute has been advising Saudi Arabia in the context of its strategy to acquire farm land overseas for its own food production.
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Agri-investment comes with risks. Look at Growpital
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