• Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

What the Fed’s first rate cut of the year means for your wallet

September 18, 2025

Mortgage rates fall again, refinances jump to highest level since 2022

September 18, 2025

How The Health Care System Can Better Support Family Caregivers

September 18, 2025
Facebook Twitter Instagram
Trending
  • What the Fed’s first rate cut of the year means for your wallet
  • Mortgage rates fall again, refinances jump to highest level since 2022
  • How The Health Care System Can Better Support Family Caregivers
  • More Americans Now Read Food Labels. You Might Be Surprised What They Focus On.
  • Top 100 Companies for Hybrid Jobs in 2025
  • AI Is Quietly Writing Your Résumé — and One Tool Could Misrepresent Your Reputation if You Don’t Take Control
  • Amazon CEO Andy Jassy Is Fighting Against Bureaucracy
  • Zoom CEO: Best Tips for Running a Video Meeting
Thursday, September 18
Facebook Twitter Instagram
FintechoPro
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
FintechoPro
Home » Colombia to spend $4.25 billion to buy land for poor farmers
Investing

Colombia to spend $4.25 billion to buy land for poor farmers

News RoomBy News RoomOctober 14, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

© Reuters. FILE PHOTO: Colombian President Gustavo Petro speaks during an event with peace negotiators of Colombia’s government and the National Liberation Army (ELN) rebels, in Bogota, Colombia August 3, 2023. REUTERS/Vannessa Jimenez/File Photo

By Luis Jaime Acosta

BOGOTA (Reuters) – Colombia’s leftist government will spend $4.25 billion to buy some 1.5 million hectares (3.7 million acres) of land for poor farmers or displaced people, as part of a bid to increase agricultural output and boost peace efforts, an official said.

The plan, which began last year and is set to end in 2026 when President Gustavo Petro leaves office, is part of Petro’s ambitious efforts to end Colombia’s six-decade conflict, which has killed more than 450,000 people. The conflict, which has involved rebels groups, the government, paramilitary organizations and crime gangs, originally began as a fight for land rights.

“We have a goal of 1.5 million hectares to benefit approximately 150,000 families, 10 hectares (24.7 acres) per family,” said Gerardo Vega, head of the National Land Agency, in an interview late on Thursday.

“With the commercial cost of the land, about 18 trillion pesos has been budgeted over four years,” he said, adding that some 100,000 hectares have already been given away and that the purchasing process is set to accelerate.

Petro had originally said his government would buy 3 million hectares, but the official goal is now half that.

The new owners of the land, located all around Colombia’s diverse terrain, will be encouraged to grow rice, corn, fruit and other crops, Vega said, and the government plans to ensure them access to other services.

Purchasing efforts can be slow, Vega added, as the government works to ensure the properties do not have displaced claimants who were forced to leave by armed groups.

Colombia’s government also redistributes land confiscated from criminals and rebel groups and is making a push to formalize ownership for farmers who have worked land for generations without formal deeds.

Some 1.3 million hectares have already been formalized, Vega said, and all the redistribution efforts should total about 7 million hectares by the end of Petro’s term.

“Land is a synonymous with peace,” he said.

($1 = 4,230.61 Colombian pesos)

Read the full article here

Featured
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

More Americans Now Read Food Labels. You Might Be Surprised What They Focus On.

Burrow September 18, 2025

Top 100 Companies for Hybrid Jobs in 2025

Make Money September 18, 2025

AI Is Quietly Writing Your Résumé — and One Tool Could Misrepresent Your Reputation if You Don’t Take Control

Make Money September 17, 2025

Amazon CEO Andy Jassy Is Fighting Against Bureaucracy

Investing September 17, 2025

Zoom CEO: Best Tips for Running a Video Meeting

Make Money September 17, 2025

Airbnb CEO Brian Chesky Is ‘Unhappy’ With Airbnb’s Growth

Make Money September 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

Mortgage rates fall again, refinances jump to highest level since 2022

September 18, 20250 Views

How The Health Care System Can Better Support Family Caregivers

September 18, 20250 Views

More Americans Now Read Food Labels. You Might Be Surprised What They Focus On.

September 18, 20250 Views

Top 100 Companies for Hybrid Jobs in 2025

September 18, 20250 Views
Don't Miss

AI Is Quietly Writing Your Résumé — and One Tool Could Misrepresent Your Reputation if You Don’t Take Control

By News RoomSeptember 17, 2025

Entrepreneur In the crowded world of AI Assistive Engines, all the attention goes to ChatGPT,…

Amazon CEO Andy Jassy Is Fighting Against Bureaucracy

September 17, 2025

Zoom CEO: Best Tips for Running a Video Meeting

September 17, 2025

Airbnb CEO Brian Chesky Is ‘Unhappy’ With Airbnb’s Growth

September 17, 2025
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 FintechoPro. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.