Establish fund for food security

23/04/2010 08:49:38

Four countries and the Bill and Melinda Gates foundation have donated $ 900 million in total to a new multilateral fund to fight hunger and poverty.

The World Bank will manage the money contributed by Gates, Canada, Spain, the United States and the Republic of Corea. The developing countries, which will benefit, will have power to decide on how to use the money to increase their agricultural productivity .The fund will help connect farmers to markets and to mitigate risks and vulnerability to economic shocks and climate and to encourage private investment. It is estimated that globally, more than one billion people suffer from hunger. 75% of the poor depend on agriculture, according to the World Bank.