By KUNA,
United Nations : Secretary-General Bank Ki-moon late Friday welcomed the World Bank announcement of a USD 1.2 billion rapid financing facility as an “important” step in providing quick support to those most affected by the current food security crisis, his press office said in a statement.
This and other initiatives to respond to the food security situation, closely coordinated between the UN system, the World Bank and the International Monetary Fund, “are intended to provide a coherent response in the short, medium and long term,” the statement said.
World Bank President Robert Zoellick on Thursday announced 1.2 billion in loans and grants to assist poor countries cope with the effects of high fuel and food costs. The money is also intended to boost food production through supplies of seeds and fertilizers to farmers.