The Bill and Melinda Gates Foundation’s investments in Monsanto and Cargill have come under heavy criticism. Is it time for the foundation to come clean on its visions for agriculture in developing countries?
The Bill and Melinda Gates Foundation, which is sponsoring the Guardian’s Global development site is being heavily criticised in Africa and the US for getting into bed not just with notorious GM company Monsanto, but also with agribusiness commodity giant Cargill.
Trouble began when a US financial website published the foundation’s annual investment portfolio, which showed it had bought 500,000 Monsanto shares worth around $23m. This was a substantial increase in the last six months and while it is just small change for Bill and Melinda, it has been enough to let loose their fiercest critics.
Seattle-based Agra Watch – a project of the Community Alliance for Global Justice – was outraged. “Monsanto has a history of blatant disregard for the interests and well being of small farmers around the world… [This] casts serious doubt on the foundation’s heavy funding of agricultural development in Africa,” it thundered.https://www.theguardian.com/global-development/poverty-matters/2010/sep/29/gates-foundation-gm-monsanto?