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
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
- Prince Harry Kissing Mystery Blond, Cressida Bonas & Camilla Thurlow Are Distant Memory
Join the Conversation
- Economic Growth In US And Sub-Saharan Africa Allay 2015 Recession Fears
- Travel Alert: Over 200 Canadians Infected with Mosquito-Borne Chikungunya Virus
- Canadian Ebola Drug: Tekmira Firm Starts Limited Manufacturing of Vaccine, Available By December; Shares Up
- US Dedicates 5 Airports for Travellers From Ebola-Stricken Nations, Lawmakers Want Travel Ban
- WHO Races to Release Ebola Serum in 2 Weeks, Vaccines in January
- ASUS Releases A Teaser Indicating The Arrival of New Zenfone and ZenWatch On October 28
- Boy Stoned To Death For Alleged Rape, Victim Receives Dowry From Militants
- Xiaomi Redmi 1S vs. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Three Dual SIM Samsung Galaxy Note 4 Duos Variants Comes To China
- Russia is Creating Underwater Combat Robots to Protect its Arctic Territories
- ‘Lone Wolf’ Attack on Canada Parliament Hill Could be ISIS-Related
- Swedish Military Spots ‘Russian Submarine’ Off Stockholm Coast, An Alarming ‘Security Game Changer’