The World Bank announces an additional $12B in funding for projects to address the global food security crisis, bringing the total to $30B
"Food price increases are having devastating effects on the poorest and most vulnerable," World Bank President David Malpass says.
Amid the growing shortages exacerbated by the Russian offensive against Ukraine, a key grain producer, the new funding will finance projects over the next 15 months to boost food and fertiliser production, facilitate greater trade and support vulnerable households and producers, the World Bank said on Wednesday.
"It is critical that countries make clear statements now of future output increases in response to Russia’s invasion of Ukraine." Russia's offensive against Ukraine and international economic sanctions on Moscow have disrupted supplies of wheat and other food supplies from both countries and pushed up fuel and diesel prices, especially in developing nations.And India over the weekend banned wheat exports, which sent prices for the grain soaring.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Akron police investigating robberies of Key Bank, Chase BankPolice are searching for two suspects after the robberies in the Highland Square and Chapel Hill neighborhoods.
Read more »
India's Central Bank RBI Warns Crypto Could Lead to Dollarization of Economy – Economics Bitcoin NewsIndia's central bank has expressed concerns that cryptocurrencies could lead to the dollarization of part of the Indian economy. crypto cryptocurrency bitcoin $BTC
Read more »
India's Central Bank Reiterates Negative Views on Cryptocurrencies: ReportIndia's Central Bank is worried that the rising interest in cryptocurrencies may lead to the dollarization of its domestic economy.
Read more »
Crypto CEOs are courting Brazil’s central bank as legislation moves through National CongressBrazil’s Central Bank president Roberto Campos Neto had meetings with Binance and Coinbase on his agenda over the past few days.
Read more »
Former Fed chair warns US economy faces stagflation after central bank missed inflationFed Chairman Jerome Powell and his colleagues initially operated under the assumption that higher inflation was narrowly related to the COVID-19 pandemic, and that once virus cases started to decline, prices would stabilize too.
Read more »
More women donating to NY Milk Bank during baby formula shortageWith so many families struggling to find formula some women in New York are stepping up to donate breast milk.
Read more »