Banks pose threat to farmers livelihood, WDM
London, 06 Mar – (ANA) - The lives and livelihoods of families and farmers are under threat because banks and hedge funds are looking for new ways to make money from natural resources, the World Development Movement, WDM, has said.
In a statement, WDM said the financial institutions have helped to drive up prices worldwide through speculating on the cost of food, sparking a global food crisis that has brought millions of people to the edge of starvation. Lloyds, RBS and Barclays are already investing in corporations whose practices risk driving farmers and families off the land they rely on for their livelihoods, WDM said. Small scale farmers and families are resisting the influence of the financial sector and developing new systems of their own, WDM said and called the public to help promote alternatives and challenge the growing role of the finance sector in the developing world. (ANA)
FA/ANA/06 March 2012-------