The Obama administration is proposing to add $408 million to a global fund to boost food production and encourage good farming practices in the developing world, the Treasury Department announced on Thursday.
(…) “A global economy where more than one billion people suffer from hunger is not a sustainable one,” Treasury Secretary Timothy Geithner said in a statement. “At a time of limited resources and large global challenges, this fund will leverage support from around the world to achieve lasting progress against hunger and bolster agricultural productivity and growth.”
(…) Mr. Obama will face some opposition from both Democrats and Republicans over the scale of federal spending. The fund was created as part of $22 billion in pledges made by world leaders at the G-8 meeting in L’Aquila, Italy, last summer, and finalized at the G-20 meeting in Pittsburgh a few months later.
The funds are meant to be invested to improve land use planning, irrigation and farm machinery, to provide technical help to farmers and to build better roads linking farmers with their markets. (…)
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