International institutions are alarmed by the world food situation! The World Bank releases more than eleven billion euros to finance water supply or irrigation projects.
Cereal prices were already very high before the war in Ukraine, but the blocking of the Black Sea ports further aggravates the situation. The country usually accounts for around 10% of world wheat exports.
The financial institution specifies that it also has unused funds (regarding eighteen billion euros) for projects directly linked to food and nutritional security problems. The total aid therefore represents almost thirty billion euros.
This aid will however be insufficient: the Secretary General of the United Nations insists on the need to unblock the situation in Ukraine. “_There will be no lasting solution to the food crisis without reintegrating Ukrainian production into world markets, as well as food and fertilizers produced by Russia and Belarus – despite the war._Russia must allow the safe and secure export of grain stored in Ukrainian ports. And Russian food products and fertilizers must have full access to world markets without indirect obstacles“ detailed Antonio Guterres.
The World Bank’s assistance will be spread over the next fifteen months and will mainly benefit countries in Africa, the Middle East, Eastern Europe and Central and South Asia. The World Bank fears consequences worse than during the food price crisis of 2007-2008 and prepares to intervene on several aspects : “_We will support and protect the poorest households by strengthening safety nets. Our support will help farmers prepare for the next planting season. _It will also be used to avoid export restrictions and maintain food circulation and trade, to avoid price hikesexplique Martien Van Nieuwkoop, director “agriculture et alimentation” de la Banque global.
To stabilize the markets, the financial institution asks countries to declare what their production will be. It also calls for “concerted efforts” to increase energy and fertilizer supplies and help farmers increase planted areas and yields.
