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UN: Not Enough Money Available to Feed the World

Oct. 29, 2010 /EIN Presswire/ - A crisis is looming in world agriculture because of lack of resources to feed the world's exploding population.

In a report, the UN's Food and Agriculture Organization says that up to $100 billion a year may be needed to feed a population expected to grow from its current 6.7 billion level to 9 billion people. Current resources fall far short of that.

The UN group's report, released ahead of a global conference in the Hague which begins Sunday, says "Available financing, current and projected, are substantially insufficient to meet climate change and food security challenges."

Existing financing mechanisms instrumental for fighting climate change -- such as the Clean Development Fund or the European Union's Emissions Trading Scheme -- often exclude agriculture, the FAO said.
The agency says the agricultural shortage is particularly acute in undeveloped countries.

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