G8 proposes $20 billion food safety initiative for poor nations
11 Jul 2009
Leaders of the Group of Eight (G8) developed countries concluded their summit with a $20-billion L'Aquila Initiative on Global Food Safety.
The objective is to invest $20 billion in 3 years to encourage rural development of poor countries. Initially the funds invested amounted to $15 million. Washington will make $3.5 billion available to the 3-year programme.
The G8 groups the US, Japan, Germany, France, Britain, Italy, Russia and Canada. The Italians made it a `G14' with emerging powers on the second day, and then added 15 more on the third.
Altogether, leaders of 40 states and international organisations have approved the L'Aquila Initiative on Global Food Safety. The decision has been subscribed to by all the countries represented in L'Aquila, as well as the G8 and G5 countries, Egypt, Australia, South Korea, Indonesia, Denmark, The Netherlands, Spain, Turkey, Algeria, Angola, Ethiopia, Libya, Senegal, and Nigeria, along with the African Union and all of the international organisations.
The leaders have further promoted the development of a global partnership focused on agriculture and food safety with the objective of prioritising the importance of agriculture on the International agenda, launching new investments and improving the efficiency of aid programmes and regional coordination by involving all the partners, a G8 release said.
Tackling global challenges "in the absence of major powers like China, India and Brazil seems to be wrongheaded", Obama said, adding that he looked forward to "fewer summit meetings," said US president Barack Obama.
"There is no reason Africa should not be self-sufficient when it comes to food," said Obama.
Obama also promised to Africa make strides in agriculture by making available seeds, irrigation and mechanisms for farmers and get fair price for their produce.