Leaders of the World Bank, IMF, UN WFP, and WTO called for support of vulnerable countries as Russia’s war in Ukraine jeopardizes global food security
“The world is shaken by compounding crises. The fallout of the war in Ukraine is adding to the ongoing COVID-19 pandemic that now enters its third year, while climate change and increased fragility and conflict pose persistent harm to people around the globe,” said the joint statement of the Heads of the World Bank Group, International Monetary Fund, United Nations World Food Program, and World Trade Organization.
Sharply higher prices for staples and supply shortages are pushing millions of people into poverty in both poorest and middle-income countries. World Bank warned that for each 1% increase in food prices, 10 million people are thrown into extreme poverty worldwide.
Combined with a dramatic increase in the cost of natural gas, the increase in food prices can fuel social tensions in many of the affected countries, especially those that are already fragile or affected by conflict, according to the statement.
“We call on the international community to urgently support vulnerable countries through coordinated actions ranging from the provision of emergency food supplies, financial support, increased agricultural production, and open trade,” urged the leaders of international organizations.