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The correct answer is I, II, and III.
I. There is persistent investment over time only in select locales. This statement suggests that certain areas receive more investment and development opportunities compared to others, leading to regional disparities.
II. Some areas are agro-climatically less conducive to development. This statement acknowledges that geographical and climatic factors can affect the development potential of different regions. Regions with unfavorable agro-climatic conditions may face challenges in agricultural productivity and overall development.
III. Some areas continue to face little or no agrarian transformation and the consequent lack of social and economic opportunities. This statement highlights the lack of agrarian transformation and resulting limited social and economic opportunities in certain areas. These areas may experience persistent poverty and underdevelopment.
IV. Some areas have faced continuous political instability. This statement suggests that political instability can contribute to regional disparities. However, this statement is not included in the correct options provided.
Therefore, the correct answer is I, II, and III.