World Bank acts to mitigate food crisis, unveils $1.2 bn fund
The World Bank on Thursday unveiled a $1.2 billion fast-track funding facility to help combat the impact of rising food prices on the poor. The facility includes a $200 million trust fund which will pay for grants targeted at the world's poorest countries. The facility will be used to speed up the financing of safety net programmes, including conditional cash transfers and school feeding programmes. It will also support food production by supplying seeds and fertiliser, as well as providing budget assistance to countries that have cut food tariffs.