Commercial farmers in Zimbabwe whose holdings were seized in land invasions backed by President Robert Mugabe’s administration say the World Bank is considering underwriting the settlement of their claims with government bonds.
The World Bank is advising the government on improving land reform and compensation bonds have been used in other countries, the office of its country manager in Zimbabwe, Camille Nuamah, said last week in response to questions. Zimbabwean Agriculture Minister Joseph Made was not available to discuss compensation, an aide who declined to be identified said when his office was called.
About 3,000 mainly white farmers were dispossessed of properties in a land-reform programme that began before elections in 2000 and led to the collapse of exports from tobacco to maize, causing famines and an almost decade-long recession.
At least 18 farmers and farm workers were killed in the invasions in 2000 and 2001, while about 300,000 farm workers have lost their jobs, says the Harare-based Commercial Farmers Union (CFU).
“The bonds should be issued by the government of Zimbabwe but underwritten by the Multilateral Investment Guarantee Agency under the World Bank,” Ben Gilpin, an executive at the CFU, said in an interview…
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