The USA can do it again. It is important the decisions to increase agricultural production after decades of reducing it be made permanent to allow stable prices and commodities. That, of course, means more aggressive climate policy to end the droughts and floods.
Finger pointing at Russia only provides a greater platform for global misery rather than a new or returned paradigm to establish stable food supplies.
May 18, 2022...The World Bank Group’s global response (click here) will address four priorities:
Support production and producers: Take actions to enhance next season’s production by removing input trade barriers, focusing on more efficient use of fertilizers, and repurposing public policies and expenditures to better support farmers and output.
Facilitate increased trade: Build international consensus (G7, G20, others) and commitment to avoid export restrictions that increase global food prices and import restrictions that discourage production in developing countries.
Support vulnerable households: Scale up targeted, nutrition-sensitive social protection programs and replenish early-response financing mechanisms.
Invest in sustainable food and nutrition security: Strengthen food systems to make them more resilient to rising risks (conflict, climate, pests, diseases), trade disruptions and economic shocks – balance immediate/short-term needs with long-term investments.
The World Bank gained extensive experience in response to the 2007-2008 global food price crisis through the temporary Global Food Crisis Response Program (GFRP) that received donor contributions and channeled funds to 49 affected countries through 100 projects. Since then, the Bank had built up new tools dedicated to responding to food security crises, including the IDA Crisis Response Window. The World Bank also hosts the Global Agriculture and Food Security Program (GAFSP), which is an existing financial intermediary fund dedicated to improving food security in low-income countries and could be replenished to help fund the response to the current global food crisis.
Facilitate increased trade: Build international consensus (G7, G20, others) and commitment to avoid export restrictions that increase global food prices and import restrictions that discourage production in developing countries.
Support vulnerable households: Scale up targeted, nutrition-sensitive social protection programs and replenish early-response financing mechanisms.
Invest in sustainable food and nutrition security: Strengthen food systems to make them more resilient to rising risks (conflict, climate, pests, diseases), trade disruptions and economic shocks – balance immediate/short-term needs with long-term investments.
The World Bank gained extensive experience in response to the 2007-2008 global food price crisis through the temporary Global Food Crisis Response Program (GFRP) that received donor contributions and channeled funds to 49 affected countries through 100 projects. Since then, the Bank had built up new tools dedicated to responding to food security crises, including the IDA Crisis Response Window. The World Bank also hosts the Global Agriculture and Food Security Program (GAFSP), which is an existing financial intermediary fund dedicated to improving food security in low-income countries and could be replenished to help fund the response to the current global food crisis.
