Tuesday, 18 March 2008

World Bank Pledges More African Agri-Aid

The World Bank has promised to increase its aid package to Africa to help develop agricultural production there and combat rising food prices.

It will contribute $700m (£348.6m) in the 12 months from June 2008, up from $400m in the the previous year period, and may boost its loans further.

The World Bank move comes after United Nations Secretary General Ban Ki-moon said one way to tackle acute food shortages would be to help Africa develop its farming capabilities and improve efficiency.

World Bank to double Africa aid - BBC 11/03/2008
World Bank to Increase Africa Agriculture Loans - World Bank Press reviews 11/03/2008