FARC rebel leaders and the Colombian government have reached an agreement on land reform in what could be a major step toward a long-awaited peace deal. The plan would provide farmers with loans and other aid as well as creating a land bank for redistributing farmland. More than half of farms in Colombia are owned by roughly 1 percent of landowners. Cuban diplomat Carlos Fernández read the joint statement from Colombia and the FARC, which came during peace talks underway in Cuba.

Carlos Fernández: “What we have agreed to in this accord will be the beginning of radical transformations in the rural and agrarian reality of Colombia, with equity and democracy. It is centered on the people, the small farmer, access to and distribution of land, the fight against poverty and the stimulation of production.”