World Bank President Robert Zoellick renewed his call for rich nations to step up efforts to solve the global food and energy crisis. “We are entering a danger zone,” Zoellick noted in a letter to Japanese Prime Minister Yasuo Fukuda, who will serve as host to other G8 leaders for their annual summit next week. “What we are witnessing is not a natural disaster – a silent tsunami or a perfect storm. It is a man-made catastrophe and as such must be fixed by people,” Zoellick added. He believes that addressing the situation would require USD10 billion in emergency aid to poor nations. The World Bank chief hopes for contributions to the agency’s USD1.2 billion food crisis facility, which provides for USD200 million in grants. Zoellick revealed that the agency already approved USD200 million for 12 affected nations and has received requests for a total USD400 million in funding from 31 others.
Source: World Bank chief urges swift actions on food by G8 (Reuters)