Five nations to get $224 mln to boost food output
June 24, 2010 5:35 AM EST
The U.S. Treasury Department said on Wednesday that five developing countries will get grants totaling $224 million from a new fund set up to reduce global hunger and poverty.
The Global Agriculture and Food Security Program was launched in April 2010 in response to a call from Group of 20 leaders in Pittsburgh last year for the World Bank to find ways to set up a trust fund for donors who wanted to help.
The U.S., Canada, South Korea, Spain and the Bill & Melinda Gates Foundation put $880 million into the fund and the timing of Wednesday's announcement -- ahead of meetings this week of G8 and G20 leaders -- was intended to show a commitment to reduce food insecurity.
The first round of grants will go to Bangladesh, Haiti, Rwanda, Sierra Leone and Togo. Treasury said an estimated two million people should benefit from the funding to boost food production and reduce poverty.
Treasury said that estimates were that a sudden increase in food prices in 2008 drove some 100 million people into poverty
and, even before that price spike, 850 million people in poor countries were chronically malnourished.
Most Popular Slideshows
- Angelina Jolie & Brad Pitt Heads to Malta For New Movie After A Whirlwind French Wedding [PHOTOS]
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Chris Martin Getting Serious With Jennifer Lawrence, Actress Joining Coldplay Tour [PHOTOS]
- 2014 US Open Update (Day 4 - Men's Singles): Murray, Djokovic, Raonic and Isner Advance to 3rd Round [PHOTOS]
Join the Conversation
- Apple iPhone 6 Actual Release Date after September 9 Confirmed 128GB Variant with New Resolution
- Pricey iPhone 6 on Release Date Likely but with 3X Retina Resolution & Mobile Payment Service – Reports
- Google Nexus 8 Confirmed as HTC T1 aka Volantis/Flounder with Freshly-Leaked Specs & Features – Reports
- Moto G2 Release Roundup: Specs, Pricing, and Release Date Details
- PlayStation 4 Killing Xbox One Costing Microsoft Millions But It's Fine
- Nexus 6 on Release Date Confirmed with Phablet-Size Display as FCC Filing Hints of 5.9-Inch Screen
- Europe, US Next on ISIS’ Hit List, Says Saudi King; Seized ISIS Laptop Reveals Terrifying Bio-Warfare Plans