World Bank Aims to Hand Over Seed Industry to Agribusiness
The world seed market currently lies in the hands of only six agribusinesses transnationals.
A host of concerned organizations and individuals have come out in opposition to a corporate-backed plan by the World Bank to control the world's seed industry. The groups say that the wide-reaching plan will strip farmers of their rights to seeds and food.
The denouncement comes in response to the World Bank’s report titled, "Enabling the Business of Agriculture." A letter signed by 157 organizations and academics, was addressed to World Bank President Jim Yong Kim and the EBA’s five donor organizations, to demand an end to the controversial project.
“The EBA dictates so-called ‘good practices’ to regulate agriculture and scores countries on how well they implement its prescriptions,” said Frederic Mousseau, policy director from the Oakland Institute. “The Bank, behind closed doors, convinces governments to implement reforms based on the EBA scores, thereby bypassing farmers and citizens’ engagement,” he added.
In the report, “Down On the Seed, the World Bank Enables Corporate Takeover of Seeds,” the Oakland Institute explained how multinational companies already exercise tight control on the majority of the world’s seed industry.