World Bank approves $2.3 billion plan for East, Southern Africa to tackle food insecurity
NAIROBI (Reuters) - The World Bank said on Wednesday it had approved a $2.3 billion programme for Eastern and Southern African countries to help them tackle food insecurity.
In a statement, the bank said an estimated 66.4 million people in the region were forecast to experience food stress or a food crisis, emergency, or famine by July.
"Food system shocks brought on by extreme weather, pest and disease outbreaks, political and market instability, and conflict are becoming more frequent and severe, putting more people at risk of food insecurity," the statement said.
Video: How the world's major central banks are tackling soaring inflation (CNBC)
-
The 100th anniversary of insulin sees medicine not accessible for everyone CNBC's Meg Tirrell joins Shep Smith to report on the struggle some people have to pay for life-saving insulin. Now a movement is fighting to assure 'Insulin for All.'
CNBC
-
The Pre-Markets Rundown: August 9, 2022 CNBC brings you fast, accurate, and actionable business news and market updates.
CNBC
-
Stocks can provide investors a partial hedge against inflation, investment manager says Francois Savary, chief investment officer at Prime Partners, explains how investors should adjust their asset allocation strategy to weather the grim macroeconomic environment.
CNBC
"The war in Ukraine is further exacerbating these effects by disrupting the global food, fuel, and fertiliser markets."
The bank said its project - called Food Systems Resilience Program for Eastern and Southern Africa - will first target Ethiopia, where around 22.7 million people are food insecure due drought, and Madagascar where 7.8 million people are also in need of food aid due to drought in the country's south.
(Reporting by George Obulutsa; editing by Mark Heinrich)