World Bank to provide additional $12 bn to address global food crisis

The World Bank on Wednesday announced an additional $12 billion in funding for projects to address the global food security crisis, bringing the total to $30 billion.

Amid the growing shortages exacerbated by the Russian invasion of Ukraine, a key grain producer, the new funding will finance projects over the next 15 months to boost food and fertilizer production, facilitate greater trade and support vulnerable households and producers, the World Bank said.