Monday, May 05, 2008

Asian bank in food crisis warning


The Asian Development Bank (ADB) has warned that the crisis of rising food prices could reverse gains made in reducing poverty across the continent.

Bank president Haruhiko Kuroda warned at its annual meeting in Madrid that "the cheap food era may be over".

Donor countries have pledged more than $11bn (£5.5bn) to a fund to ease the hardship of Asia's poorest people.

Meanwhile, the African Development Bank has pledged an extra $1bn for its loans portfolio to tackle the food crisis.

See full Article.