US Wants G8 to Pledge $15 Bln on Food Aid-Draft Text |
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July 7,2009
The United States wants a G8 summit this week to commit $15 billion over a multi-year period for agricultural development in poor countries to fight food insecurity, according to a draft declaration seen by Reuters.
The United States wants a G8 summit this week to commit $15 billion over a multi-year period for agricultural development in poor countries to fight food insecurity, according to a draft declaration seen by Reuters.
The declaration said Washington was ready to mobilise $3-4 billion over a multi-year period and wanted other partners to match that commitment to reach the $15 billion target.
"The funds...would be earmarked for investment in low income countries to implement agriculture development strategies, to finance agricultural infrastructure, land and water management, risk mitigation actions," the declaration said.
It added that they would be pooled in a multi-year global agriculture and food security trust fund administered by the World Bank.
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