World Bank launches $30bln plan as Ukraine war threatens food security
The World Bank unveiled on Wednesday a $30 billion plan to address the global food crisis, amid the growing shortages exacerbated by the Russian invasion of Ukraine, which has cut off most grain exports from the two countries. The resources will finance new and existing projects over the next 15 months to address the global food crisis in areas the hardest hit by the impact of the war.
The World Bank unveiled on Wednesday a $30 billion plan to address the global food crisis, amid the growing shortages exacerbated by the Russian invasion of Ukraine, which has cut off most grain exports from the two countries. This disruption worsened existing stresses in the commodity market following the recovery from COVID-19 pandemic, which saw a resurgence in global demand and limited supplies after 2020, pushing the food prices to levels not seen since 2007-08.
The new funding