The World Bank has backed the practice of countries selling large tracts of agricultural land to overseas investors, but is urging host countries to demand much more from investors to increase farming productivity and peoples’ livelihoods...[In the report: “Rising Global Interest in Farmland: Can It Yield Sustainable and Equitable Benefits?”] the multilateral donor organisation warns about the risk of the deals, particularly the “limited recognition of local rights”...“When done right, larger-scale farming can provide opportunities to poor countries with large agricultural sectors and ample endowments of land,” the report states. The bank, nonetheless, does not endorse all the investments and it also criticises strongly some of the deals for depriving local communities of their arable land...Critics, including…Oxfam and the FAO believe the deals are a form of neo-colonialism. The World Bank is proposing a seven-principle code of conduct for investors and host countries, including respecting local land rights, ensuring food security, ensuring transparency and good governance, consultations with those involved, responsible agro-investing, social sustainability and environmental sustainability. The multilateral organisation also suggests building on the experience of the Extractive Industry Transparency Initiative...The bank paints a poor picture of some of the deals already signed. [refers to Daewoo Logistics]