World Bank To Start Agriculture Fund With $1.5 billion |
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November 25, 2009
The World Bank will start a trust fund to boost agriculture in poor countries with an initial $1.5 billion, its president Robert Zoellick said on Tuesday, warning of the risk of another food price crisis.
The World Bank will start a trust fund to boost agriculture in poor countries with an initial $1.5 billion, its president Robert Zoellick said on Tuesday, warning of the risk of another food price crisis.
Crop shortages in India and the Philippines combined with increased speculation in commodity markets by investment funds have increased the risk that food prices could spike, as happened in 2008, Zoellick said.
"I'm not forecasting this. I'm just staying we have to anticipate this as a possible risk," he told reporters on the sidelines of a food security event at Brookings Institution.
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