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Obama's 'Poverty-Relieving' Plan for Africa a Profit Boon for Giant Agribusiness

Common Dreams - President Obama's announcement today of $3 billion in private investments in a poverty- and hunger-relieving plan for Africa is set to be a boon for giant agribusiness, a move critics say leaves small-scale farmers and agro-ecological methods in the dust.

The pledged investments come from agricultural behemoths including Dupont, Monsanto and Cargill.

The G8, now meeting in Maryland, has presented a view of private investments as a way of solving poverty.

“The G8 must not give in to the temptation to make bold and convenient assumptions about the private sector as a development panacea,” said Gawain Kripke, Director of Policy and Research at Oxfam America.

Raj Shah, the administrator of the U.S. Agency for International Development, argued that a public-sector solution to alleviating hunger is "highly unlikely." Kripke, however, dismisses that claim.  Read more.

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