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International Banking and Rural Development

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International Banking and Rural Development by Badru, Pade, 9781840143058
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  • ISBN: 9781840143058 | 1840143053
  • Cover: Hardcover
  • Copyright: 4/1/1998
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Two of the World Bank's agricultural development projects in South East Nigeria are reviewed, and concluding that the objectives of these projects, which include reducing rural poverty and developing indigenous capacity for rural development, have not been fully realized. It further concludes that what the projects had achieved, in the past, was the increasing integration of the peasant's political economy into the world capitalist market with negative consequences. For instance, the projects emphasis on export crop production, as opposed to food production, simply led to a diminishing capability among peasant farmers, especially in project areas, to produce food for themselves, while at the same time, reporting increased productivity in export-related production. The end result is widespread poverty amongst the poorest strata of peasant farmers participating in the program. The book also looks at the Bank's structural adjustment program which in fact has the potential to reduce whatever benefits its agricultural programs might bring about for peasant producers.

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