Russia FinMin backs fund to tackle food price rises

Humanitarian agencies estimate soaring food prices could push as many as 100 million more people into hunger.

Russia FinMin backs fund to tackle food price rises
Russia wants the world's leading economies to create a fund to help poor countries cope with high food prices, and Finance Minister Alexei Kudrin will discuss the issue with Group of Eight counterparts in Japan this week.

Kudrin, speaking at a government meeting on Monday, said food prices would be one of the major themes when finance ministers from the G8 rich nations meet in Osaka, western Japan, on Friday and Saturday.

"There are two initiatives for supporting the poorest countries, where access to food products has been sharply reduced, leading to poverty, malnutrition and hunger," Kudrin said.

"We want to create an operational fund to support those types of countries," he said. "The second initiative is to work out a mechanism that would soften the blow of such crises for the poorest countries."

Last month, the Organisation for Economic Co-operation and Development and the UN's Food and Agriculture Organisation said food prices would remain high over the next decade even if they fall from current records.

Humanitarian agencies estimate soaring food prices could push as many as 100 million more people into hunger. About 850 million are already going hungry.


Reuters

Güncelleme Tarihi: 09 Haziran 2008, 18:16
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