Wednesday, June 29, 2022

G-7 Food Aid Inadequate

 The G-7 leaders have promised Ukraine over $31.6 billion in budgetary and humanitarian support. 

Yet despite the ever-growing global hunger crisis, intensified by fallout from the war, the G7  said it would provide only an additional $4.5 billion, amounting to a total of over $14bn for hunger relief. 

 $2 billion will be to directed toward emergency interventions, $760 million will be used for sustainable near-term food assistance to help mitigate poverty, hunger and malnutrition in vulnerable countries that are affected by high food prices, fertilizer and fuel. The investments aim to support efforts in more than 47 countries and regional organizations by tackling fertilizer shortages and purchasing resilient seeds.

NGOs have described the results of a summit of G7 as inadequate, with Oxfam Germany explaining the  summit declarations are "intended to distract from the historic failure of the G7," to prevent growing food insecurity.

"The $4.5 billion pledged is far too little to end the global food crisis and prevent people from continuing to go hungry," Charlotte Becker, advocacy and campaign director at Oxfam, said in a statement. "At least an additional $28 billion is needed to end hunger and fund the United Nations' appeals for help."

It failed to include any debt relief for affected low- and middle-income countries. For every dollar of aid money, two dollars would have to be paid to creditors.

 G7 disappoints on energy and food crises | Business | Economy and finance news from a German perspective | DW | 28.06.2022

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