US pledges to controversial World Bank agriculture fund

News|Bretton Woods Project|16 April 2010|update 70|url
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The US administration is seeking to allocate $1.6 billion to its global agriculture and food security initiative. Of this, $408 million has been earmarked for the global agriculture and food security programme (GAFSP), a new multi-donor trust fund, to be managed by the World Bank. The GAFSP "will provide financial assistance to poor countries that make policy and financial commitments to address their internal food security needs." It has been criticised for failing to address the root problems of food security (see Update 69). Eleven US NGOs released a statement saying that, with improved accountability and civil society engagement, and no role for the IFC, the GAFSP "could do much more to reduce both hunger and poverty."

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Published: 16 April 2010 , last edited: 23 April 2010

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