Bush responds to World Bank plea for action
by Richard Kilner
Story link: Bush responds to World Bank plea for action
President Bush has ordered $200m in emergency food aid to help the most impoverished nations.
His move comes as a response to the World Bank and IMF concern raised over soaring food prices across the globe, which has seen civil unrest in various countries and multiple deaths from rioting in Haiti.
Robert Zoellick, the president of the World Bank, has called on wealthy nations to help alleviate the dire food shortages affecting numerous poorer countries.
Zoellick has said he believes a fund totalling $500m at least is necessary to solve the current worldwide problem.
The food shortage has been exacerbated by the encouragement of biofuels, with a so-called green initiative leading to a lack of plants used for food rather than fuel.
Oxfam and others have been critical of the promotion of biofuels, which had been seen as a greener alternative to fuel vehicles.
In certain parts of the world severe weather has caused more localised problems, as droughts and bad winters destroy crops meant for food.
Add to Bookmarks:
Related stories to: Bush responds to World Bank plea for action
World Bank: $10bn needed to combat food crisis ...
FSA powers to include “plea bargaining” for whistle-blowers ...
Liberia ends debt arrears to World Bank ...
World Bank calls for action on climate change ...
World Bank fights food crisis with $1.2bn ...
No Comments »No comments yet.
Leave a commentPrevious: « Germany’s economic confidence falls
Next: JP Morgan internal report predicts 40,000 City job losses »
Visited 746 times, 2 so far today