Remarks by World Bank Group President David Malpass to the U.S. Treasury’s Event on Tackling Food Insecurity : The Challenge and Call to Action
These remarks were delivered by the World Bank Group President David Malpass to the U.S. Treasury’s Event on Tackling Food Insecurity : The Challenge and Call to Action, on April 19, 2022. He spoke about Russia’s invasion of Ukraine has triggered m...
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| Language: | English English |
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099851504212235537/IDU0ce00466401080804c05941e6cbfccf http://hdl.handle.net/10986/37799 |
| Summary: | These remarks were delivered by the
World Bank Group President David Malpass to the U.S.
Treasury’s Event on Tackling Food Insecurity : The Challenge
and Call to Action, on April 19, 2022. He spoke about
Russia’s invasion of Ukraine has triggered major threats to
global food and nutrition security. He mentioned that the
global food and fertilizer prices were already on the rise
prior to the war. He added that food and nutrition
insecurity were also rising. He described that the deepening
of the crisis in the last two months is directly linked to
the terrible war being waged by Russia on Ukraine, and the
costly financial, shipping, and logistical hurdles now faced
by agribusinesses and importers. He also said that food
crises are particularly devastating for the poorest and most
vulnerable people. He expects to launch an overall surge in
their financial support in coming weeks. He told them that
funding for food security will be an important component. He
also mentioned two mechanisms that can be mobilized
alongside IDA and IBRD, to boost food security and
resilience, in a well-coordinated manner as follows: (i) the
Global Agriculture and Food Security Program (GAFSP), which
was set up by the G20 in response to the 2007-2008 food
crisis; and (ii) the World Bank also hosts a multi-donor
Trust Fund, Food Systems 2030, that can help countries
strengthen their food systems to meet short and long-term
goals. He spoke about the tragedy unfolding in Ukraine must
not be compounded with another tragedy – a global food
crisis. He concluded by saying that they can count on the
World Bank Group to work with all partners to help the
people of developing economies to confront these challenges. |
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