The majority of the resources will go to countries in Africa, the Middle East, Eastern Europe and Central and South Asia, the institution specifies, adding that these budgets must support agriculture, social protection for cushion the effects of rising food prices, and promote water supply and irrigation projects.
The World Bank also points out that it has 18.7 billion unused dollars which will also be able to be devoted to projects directly linked to food and nutritional security problems.
A total of thirty billion dollars will be available for the implementation of the fight once morest food insecurity over the next fifteen months.
Rising food prices are having devastating effects on the poorest and most vulnerable, warns World Bank President David Malpass, who recommends that countries make concerted efforts not only to increase energy and fertilizer supplies , help farmers to increase plantings and crop yields, but also to “remove policies that block exports and imports or encourage unnecessary storage”.
In a separate statement, the US Treasury commended the collective action of international financial institutions including the World Bank, International Monetary Fund and development banks that are working quickly to try to address growing food insecurity. A series of measures has thus been announced to meet immediate needs with the priority objectives of alleviating fertilizer shortages, supporting food production, investing in agriculture that is resilient to climate change for the future and promoting free trade. .
Last year, 193 million people in fifty-three countries were already in a situation of acute food insecurity but it will worsen due to the Russian-Ukrainian war, two countries which alone represent 30% of the supply global.
