ISLAMABAD: The World Bank has announced actions that it plans to take as part of a comprehensive, global response to the ongoing food security crisis, with up to $30 billion in existing and new projects in areas such as agriculture, nutrition, social protection, water and irrigation.
This financing will include efforts to encourage food and fertiliser production, enhance food systems, facilitate greater trade and support vulnerable households and producers, a World Bank press release stated on Wednesday.
The World Bank is working with countries on the preparation of $12bn of new projects for the next 15 months to respond to the food security crisis.
These projects are expected to support agriculture, social protection to cushion the effects of higher food prices, and water and
irrigation projects, with the majority of resources going to Africa and the Middle East, Eastern Europe and Central Asia, and South Asia.
Published in Dawn, May 19th, 2022