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G20 Asks World Bank For Ag Fund

The Group of 20 has asked the World Bank to create a trust fund to increase agricultural investment in poor countries.

In July, countries pledged $20 billion over several years to increase investment in agriculture in poor countr ies to bolster food security following record-high prices last year.

“We call on the World Bank to work with interested donors and organizations to develop a multilateral trust fund to scale up agricultural assistance to low-income countries,” G20 leaders said.

The G20 said the fund should allow money to be disbursed quickly and let countries decide for themselves how it should be spent.

Agricultural investment in poor countries has shrunk over the last decade as development agencies focused more on health issues, including malaria and HIV/AIDS.

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