By: Guy Dinmore
Source: ft.com
Leaders of the G8 on Friday committed some $20 billion over the next three years for a “food security initiative” aimed at developing agriculture in poor countries. However, the pledge was received cautiously by aid agencies and non-governmental organizations, who pointed to failed promises and a recycling of funds from other aid lines by rich countries.
The Group of Eight summit of rich countries in L’Aquila, Italy, had aimed to pledge $15bn (€10.8bn, £9.3bn). Ministers described how a last whip-round before delegations left came up with an extra $5bn to make a bigger headline figure. “There is an urgent need for decisive action to free humankind from hunger and poverty,” said a joint statement of 40 heads of government and international organizations, including the G8.
G8 to commit $20bn for food security
