Oxfam reaction to the World Bank’s statement to build capacity and safeguards related to land rights

In response to the World Bank’s statement to build capacity and safeguards related to land rights, Oxfam’s land grab campaign lead Hannah Stoddart said:

“The World Bank’s acknowledgement of the risks of land grabs by unscrupulous investors is a welcome step in the right direction if today’s words are acted upon. The Bank’s president Jim Kim has identified that the World Bank has a role to play in tackling land grabs, and that it could also look at its own practices and safeguards. We are also encouraged by commitments to the Voluntary Guidelines on Land and to work with others on new UN principles of responsible agricultural investment, which are both vital to help protect poor communities from land grabs.

"However, Oxfam is disappointed the Bank hasn't agreed to freeze its large-scale agricultural investments until it puts these new measures in place. It has also failed to fully address some key areas like the need for transparency of financial sector investments by its private sector arm, the International Finance Corporation. Oxfam will be watching the Bank closely to ensure that it fulfils the commitments it has made today, and makes further progress because too many poor people are still acutely vulnerable to land grabs.”