Global charity, Oxfam is urging the World Bank to stop funding for the deals involving acquisition of tracts of property.

Oxfam asked the global financial institution to place an immediate moratorium on funding for such deals, citing its figures showing large pieces of land were being sold to foreign investors. Estimates show that the World Bank has significantly increased its lending to land deals during the previous decade to more than $8 billion.

Barbara Stocking, the Oxfam chief executive said, "The World Bank is in a unique position to help stop land grabs becoming one of the biggest scandals of the century. Investment should be good news for developing countries not lead to greater poverty, hunger and hardship."

The investment in land has increased on the continent as Gulf states and Asian countries look for destinations to secure food and energy supplies. Some estimates show that more than 3tenth of the total land mass of Liberia was sold during the previous five years to investors.

The charity is also looking to lobby the UK government to push for global regulations that limit scope of such land acquisitions.