By IINA,
Kuwait City : Kuwait announced yesterday launching an Islamic food fund to help poor Muslim countries face the worsening global food crisis caused by surging prices. “Kuwait is offering an initiative to establish a fund for decent life in Islamic countries to provide basic foodstuff for those who are in need quickly,” Amir Sheikh Sabah Al Ahmad Al Sabah told the opening session of the fourth World Islamic Economic Forum in Kuwait City. “Kuwait announces its contribution of $100 million to launch this fund,” said the amir.
Sheikh Sabah said the fund would also offer assistance to help Muslim countries increase their agricultural production. He urged other Muslim states and organizations as well as international development funds to support the new fund. Several Muslim countries including Egypt, Mauritania and Indonesia have recently witnessed violent protests over skyrocketing food prices, Reuters reported. Fearing social discontent, many countries strained their budgets to maintain huge food subsidies. Rising populations, strong demand from developing countries, increased cultivation of crops for biofuels as well as floods and droughts have sent food prices soaring across the globe.