Germany supports 430 million euros to respond to food crisis

It is expected that, of the total additional amount of 430 million euros mentioned above, there will be 238 million euros for supporting building a sustainable agricultural economy or investing in education; 150 million euros for a special initiative called “A World Without Hunger” and at least 42 million Euros for the World Food Program.

The German Ministry for Economic Cooperation and Development said that, in addition to financial resources for support, there also needs to be better coordination between donors and recipient countries so that no country is left out.

According to World Bank (WB) President David Malpass, the Russia-Ukraine conflict have caused food prices to soar and its consequences are troubling poor people around the world, especially in countries that are heavily dependent on imports such as Egypt, Lebanon or Somalia.

Mr. David Malpass also warned, the food security crisis will last for many months, maybe even until 2023. Speaking at an online press conference within the framework of the 2022 Spring Conference of the International Monetary Fund (IMF) and the World Bank, President Malpass emphasized, conflict and its consequences are troubling the poor all over the world.

The food security crisis is likely to last until 2023. (Image: AP)

Real wage prices increased by 37% over the same period in 2021, and are higher than the consumer price index (CPI). This is interesting because CPI is a measure of the impact on the poor, who mainly spend on food – food every day.

According to the President of the World Bank, the situation lack of foodenergy and fertilizers, essential for the crop, are causing a food insecurity crisis.

On May 13, Agriculture Ministers of the world’s leading industrialized countries (G7) met in Germany to find solutions to the global food crisis. Speaking after the meeting, the German Agriculture Minister said that the G7 ministers had agreed to support small agricultural producers, which provide 60% of the world’s food. Support measures include reducing food waste and loss during production and transportation, as well as ensuring farmers’ access to seeds.

Also in this meeting, the ministers also pledged to support Ukraine to consume 30 to 40 million tons of grain, which is currently stuck due to blocked roads. While many countries in the world are in dire need of these grains.

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