The World Bank and the U.S. Agency for International Development, together with two private corporations, launched the Global Food Safety Fund Saturday (Nov. 12) to help Asia-Pacific Economic Cooperation leaders ensure the safety of global food supplies.
Apart from improving food safety standards around the world, the fund — which was made possible through public-private partnerships and is said to be the “first of its kind” — will help educate food producers and food processors expand their knowledge and understanding of the global food supply and reduce the risk of food-borne illnesses.
The fund will be managed by the World Bank and will be starting with a $1 million pledge, of which $250,000 will come from USAID and $500,000 from Mars Inc., a leading food company. Waters Corp., maker of scientific instruments and a partner in the initiative, has also pledged to make a donation.
The fund will develop pilot programs for the first three years of its operation while continuing to solicit funding to reach its target budget of $15 million to $20 million in the next decade.
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