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World Bank offers $1.2bn food aid | |
(about 9 hours later) | |
The World Bank is to offer immediate financial help to countries worst hit by sharp rises in food prices as part of a $1.2bn (£608m) assistance package. | The World Bank is to offer immediate financial help to countries worst hit by sharp rises in food prices as part of a $1.2bn (£608m) assistance package. |
Grants worth a total of $200m are being set aside for "high priority" countries most at risk from acute hunger. | Grants worth a total of $200m are being set aside for "high priority" countries most at risk from acute hunger. |
Haiti and Liberia will get $10m each to feed their most vulnerable people while Djibouti will receive $5m. | Haiti and Liberia will get $10m each to feed their most vulnerable people while Djibouti will receive $5m. |
The World Bank says 100 million people could be impoverished by the rising cost and scarcer availability of food. | The World Bank says 100 million people could be impoverished by the rising cost and scarcer availability of food. |
It has also identified Togo, Yemen and Tajikistan as being in need of immediate assistance following recent needs assessments. | It has also identified Togo, Yemen and Tajikistan as being in need of immediate assistance following recent needs assessments. |
'Immediate danger' | 'Immediate danger' |
"It is crucial that we focus on specific action," said World Bank president Robert Zoellick. | "It is crucial that we focus on specific action," said World Bank president Robert Zoellick. |
We just have to make sure we get the resources and coordinate the operations around the world Robert Zoellick | |
"These initiatives will help address the immediate danger of hunger and malnutrition for the two billion people struggling to survive in the face of rising food prices." | "These initiatives will help address the immediate danger of hunger and malnutrition for the two billion people struggling to survive in the face of rising food prices." |
Countries will be able to access money to provide food for schools and other core services as well as to buy essential items such as seeds and fertilizer. | Countries will be able to access money to provide food for schools and other core services as well as to buy essential items such as seeds and fertilizer. |
The BBC's Kim Ghattas in Washington says the money is part of a fast track programme to address immediate requirements in the global food crisis. | |
Some of it will be used to handle immediate humanitarian needs, for example for pregnant woman and young children. | |
The World Bank will also devote an additional $2bn next year to funding agricultural projects, including crop insurance schemes. | The World Bank will also devote an additional $2bn next year to funding agricultural projects, including crop insurance schemes. |
Mr Zoellick said: "This is not an issue like HIV/Aids where you need some research breakthrough. People know what to do. | |
"We just have to make sure we get the resources and coordinate the operations around the world." | |
A United Nations report published on Thursday warned that prices for key staples such as wheat and beef could remain inflated for many years. | A United Nations report published on Thursday warned that prices for key staples such as wheat and beef could remain inflated for many years. |
A world food summit is scheduled to be held in Rome from 3-5 June. | |
On Friday, representatives from 26 Latin American and Caribbean countries will also meet in Caracas, Venezuela, to discuss concerns over the rising cost of food. |
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