Opec Fund allocates $1bn to boost food security in developing countries – The National

Opec Fund allocates $1bn to boost food security in developing countries – The National

The Opec Fund for International Development has allocated $1 billion to boost food security in developing countries hit hardest by the conflict in Ukraine.

As part of its Food Security Action Plan, Opec's development finance arm will provide “immediate assistance” to its partner countries to help them to cover the import costs of basic commodities such as seeds, grains and fertilisers over the next three years, the Vienna-based organisation said on Monday.

“Millions of vulnerable people could face famine over the next few months unless the international community responds swiftly and effectively to the global food crisis,” said Abdulhamid Alkhalifa, the fund's director general.