World Bank Extends Food Crisis Fund

[cory777]

Source: IPS

WASHINGTON, Oct 20, 2010 (IPS) - Amidst fears of a recurring food crisis, the World Bank has reactivated its Global Food Crisis Response Programme (GFRP), dedicating up to 760 million dollars to countries at risk of food price volatility.

In announcing the programme's extension, World Bank President Robert Zoellick cited "growing concern among countries about continuing volatility and uncertainty in food markets".

The programme, equipped with a wide array of options for food crisis response, is expected to enable the World Bank to respond more quickly if countries are facing dangerous prices spikes.

"World food price volatility remains significant and, in some countries, the volatility is adding to already higher local food prices due to other factors such as adverse weather," Zoellick said.


Read more: http://ipsnews.net/news.asp?idnews=53235

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[SpiralHawk]

1. The main cause of volatility: speculators (R)

Making beaucoup profit from famine -- yet another Republicon family value...