The World Bank is reactivating the Global Food Crisis Response Program amid fears of heightened food price volatility.
The GFRP was set up in 2008 to help nations address adverse effects of food price hikes through support for food production, as well as safety net programs such as food for work, conditional cash transfers, and school feeding programs for the most vulnerable people. It has so far supported 35 countries with USD1.2 billion in assistance.
The move will allow the bank to fast-track the processing and disbursement of as much as USD760 million in existing GFRP funds, which can be used to provide seeds and fertilizer, improve irrigation for small-scale farmers, support social safety net programs and provide budget support to offset tariff reductions for food and other unexpected costs.
