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EU € 1 billion "Food Facility" for developing countries |
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On Wednesday 29 April, the European Commission (EC) took its second implementation decision on the proposed € 1 billion "Food Facility" to help developing countries suffering from the effects of the global food crisis, adopted at the end of 2008. This second package of € 394 million will finance projects in support of boosting agricultural productivity and food security in the worst-hit countries, as well as safety net measures designed to alleviate rural poverty.
Development Commissioner Louis Michel said: "This package shows how serious Europe is to assist developing countries to get agriculture back on its feet and to help poor people to improve their food security. In these tough global economic times, agriculture can provide good growth potentials in developing nations and be one source of their economic recovery. That's why Europe's support to this sector is so vital." Around half of the funding will be channelled through international organisations such as the UN Food and Agriculture Organisation (FAO), the International Fund for Agricultural Development (IFAD), the World Food Programme (WFP), the World Bank and other UN agencies, with the other half being channelled through NGOs and private sector actors. Source: |
