Bleak poverty warning from World Bank chief Zoellick
Robert Zoellick seeks money for UN food programme
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Monday, 14, Apr 2008 09:24
Recent food price rises could push 100 million people around the world into poverty, the head of the World Bank has warned.
Robert Zoellick was speaking as a weekend summit between the World Bank and the International Monetary Fund (IMF) drew to its close.
He says the last three years have seen significant food price hikes which has resulted in "seven lost years" in terms of poverty reduction for those affected.
Educational potential for children and adults has been lost, leading to "stunted intellectual and physical growth", he warns.
"This is about recognising a growing emergency, acting, and seizing opportunity, too," he urged at the conference.
"The world can do this. We can do this. We can have a new deal on global food policy."
Mr Zoellick wants governments to pledge $500 million (£253 million) towards the United Nations World Food Programme to address the "immediate crisis".
And he is calling on sovereign wealth funds to allocate $30 billion (£15.2 billion), one per cent of their assets, for investment in measures specifically ringfenced for Africa.
"While many are worrying about filling their gas tanks, many others around the world are struggling to fill their stomachs, and it is getting more and more difficult every day," he warned.