U.S. releases $200 Mn to hold food price spiral
Thursday, 17 April 2008, 02:09 IST
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Washington: U.S. President George W. Bush has announced a $200 million emergency aid as part of efforts to contain spiralling global prices of food items. The announcement Monday of the aid package came after World Bank chief Robert Zoellick a day earlier appealed to governments to take steps to avoid an explosive situation arising out of worldwide price hikes. Presidential spokesperson Dana Perino earlier told reporters that the U.S. was "looking at ways to meet some of the ongoing food needs of certain countries, beyond what has already been provided." She noted the need to identify the source problems to put a long term plan in place that can help in taking care of the world's poor and hungry. Zoellick warned Sunday that countries including Haiti, Egypt and the Philippines are facing civil unrest caused by the food shortage and price surge. He also urged the international community "to put our money where our mouth is" and act now to help hungry people. "It is critical that governments confirm their commitments as soon as possible and others begin to commit," Zoellick said at a press conference after the bank's development committee's meeting.
Source: IANS
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