A new report presented at the 45th annual Asian Development Bank meeting recommends the creation of a fund for the poor when food prices go up.
The report, “Food Security and Poverty in Asia and the Pacific: Key Challenges and Policy Issues,” says governments in the region must find ways to reduce food waste, encourage rural development and provide well-targeted safety nets to ensure poor people don’t go hungry.
The report says food insecurity and inequality remain in the region despite rapid economic growth. And as the population is seemingly on its way to reach 9 billion by 2050, increased demand for food and water will further put a strain on the world’s shrinking resources. This is the same concern raised at the fourth U.N. World Water Development Report.
The proposed “hunger alleviation fund” will cover 1 percent of a country’s gross domestic product. Governments and the private sector could jointly manage the fund. Governments could encourage companies to contribute via incentives, such as tax breaks.
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