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Zoellick: World "Entering a Danger Zone"

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7.2.08
The World Bank is already moving to assist countries hit hard by the crisis. In Liberia, a country struggling to recover from years of civil war, the Bank is assisting with a $10 million grant - part of a $200 million grant fund to provide prompt assistance. Overall, the Bank has created a $1.2 billion dollar rapid financing facility in the wake of the food crisis. The Bank says in Liberia, food prices rose 25% in January, pushing another 200,000 people into poverty.

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7.2.08
World Bank Group President Robert B. Zoellick is calling on leaders of the world’s richest countries and major oil producers to act now on surging food and oil prices, warning the world is now "entering a danger zone." Mr Zoellick's call was contained in a letter to the head of the upcoming G8 Summit in Japan. Speaking in Washington DC at at an American Enterprise Institute conference on the food crisis, Mr Zoellick spoke about the need for $10 billion to meet short term needs generated by the crisis.

Video:
+ Zoellick spoke about the message he's delivering to the G8 summit

Related Links:
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+ Webite: Food Crisis

 





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