Wednesday, May 18, 2022

Concerns raised about food shortages

The World Bank will make $30 billion available to help stem a food security crisis threatened by Russia's war in Ukraine, which has cut off most grain exports from the two countries, reported Reuters news agency.

The total will include $12 billion in new projects and $18 billion funds from existing food and nutrition-related projects that have been approved but have not yet been disbursed, the bank said.

“We need to actively identify ways to make up for potential future gaps in global markets, working together to foster sustainable productivity increases where possible,” said director-general Qu Dongyu of the Food and Agriculture Organization of the United Nations, speaking independently of the World Bank announcement at a meeting of  G7 agriculture ministers.

Already in 2021, approximately 193 million people were acutely food insecure and in need of urgent assistance, up nearly 40 million people from 2020.

“It is in this dramatic context that we now face the war in Ukraine,” Qu said.