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The Islamic Development Bank announced on Nov 15th, 2009 an extra one billion dollars (670 million euros) to support farmers in developing countries in a project with the UN food agency, the agency said. The Food and Agriculture Organization (FAO) announced the move ahead of a food security summit on Nov 16th, 2009 in Rome which will bring together 60 world leaders. "This agreement comes at a critical moment, when the international community recognizes it has neglected agriculture for many years," the FAO said in a statement. "Sustained investment in agriculture -- especially smallholder agriculture -- is acknowledged as the key to food security." | |||
The money will be distributed over the next three years to finance projects in IDB members states and the UN agency will provide technical support for work. The new money from the IDB will bring total investment in joint projects between the bank and the UN agency to five billion dollars, the FAO said. The agreement was reached on Nov 15th, 2009 in Rome between IDB President Dr Ahmad Mohamed Ali and FAO chief Jacques Diouf. Link: http://www.cibafi.org/NewsCenter/English/Details.aspx?Id=5836&Cat=0 |
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