0 World Bank Commits Anticipation Food Prices

World Bank Commits Anticipation Food Prices

In 2012, the international financial institutions that provide funding of about U.S. $ 9 billion.

The World Bank will provide support to the agricultural sector in order to cope with rising global food prices.

In 2012, the international financial institutions that provide funding of about U.S. $ 9 billion.

"The World Bank has increased its support in the agricultural sector to reach its highest level in 20 years," said World Bank President Jim Yong Kim, in a written statement received by the World Bank in Jakarta, today.

Kim explained, in 2012 the World Bank provided assistance amounting to U.S. $ 9 billion, the amount of which was never achieved during the past two decades.

Besides, he added, the World Bank is also coordinating with UN agencies through the High-Level Task Force on the Global Food Security Crisis and a number of non-governmental organizations.

Multilateral financial institutions, it also supports the Partnership for Agricultural Market Information System (AMIS) to increase the transparency of food markets and help government to respond to rising food prices.

If the situation continues to deteriorate, the World Bank Group is also ready to assist member countries vulnerable to food shocks, among others, by supporting social safety net programs to help the poor.

The World Bank also said global food prices rose 10 percent in July 2012 compared to the previous month. The commodities that experienced a significant increase in corn and soybeans due to drought in the United States (U.S.) as well as Eastern Europe.

According to Food Price Watch report, which is part of the World Bank Group, the price of corn and wheat respectively increased by 25 percent, soybeans 17 percent. While the rice is down 4 percent.

"Rising food prices sharply threaten the health and whereabouts of millions of people," said World Bank President.

Earlier, Agriculture Minister Suswono in Jakarta, Wednesday (29/8) states, Indonesia does not have to worry about the warnings International Food and Agricultural Organization (FAO) of the possibility of the world food crisis.

"If Indonesia, specifically, actually was not too worried because the potential in Indonesia is still possible to meet the food needs of the country, especially rice," he said.