BAN WELCOMES $1.2 BILLION FROM WORLD BANK TO FIGHT FOOD CRISIS

BAN WELCOMES $1.2 BILLION FROM WORLD BANK TO FIGHT FOOD CRISIS New York, May 30 2008 6:00PM Secretary-General Ban Ki-moon today welcomed $1.2 billion in funding from the World Bank to help tackle the global food crisis that has emerged in recent months.

"The Secretary-General welcomes the announcement by the <"http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:21783685~pagePK:64257043~piPK:437376~theSitePK:4607,00.html">World Bank of a $1.2 billion rapid financing facility as an important step in providing quick support to those most affected by the current food security crisis," a spokesperson for Mr. Ban said in a <"http://www.un.org/News/Press/docs/2008/sgsm11606.doc.htm">statement.

According to the UN, some 860 million people are suffering from hunger and malnourishment, a situation that has been worsened by recent severe price rises for food staples such as rice and wheat.

UN agencies also forecasted in a report issued earlier this week that food prices are likely to remain high over the next decade.

Mr. Ban said today that there is a need to provide a closely coordinated and coherent response to the global food crisis in the short, medium and long term.

In Rome, starting on Tuesday, Secretary-General Ban Ki-moon will chair a three-day summit on the crisis, bringing together the heads of key UN agencies, as well as the International Monetary Fund (<"http://www.imf.org/external/index.htm">IMF) and the World Bank, along with many Heads of State and Government.
2008-05-30 00:00:00.000

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