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China makes a deal to farm three million hectares of Ukrainian land over half a century

last modified Sep 24, 2013 02:52 PM

China just bought 5% of Ukraine 

As part of the deal, China’s Export-Import bank has given Ukraine a $3 billion loan for agricultural development. In exchange for its produce, Ukraine will receive seeds, equipment, a fertilizer plant (Ukraine imports about $1 billion worth of fertilizer every year), and a plant to produce a crop protection agent. XPCC also says it will help build a highway in Ukraine’s Autonomous Republic of Crimea as well as bridge across the Strait of Kerch, a transport and industrial center for the country.

Critics say the move exemplifies a slew of global land deals that smack of colonialism and resource extraction by richer countries in poorer ones. 

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SCMP