The World Bank will allocate $30B for global food security due to the war in Ukraine.

The World Bank has announced plans to give more than $30B to projects in order to meet the world’s food security challenges, which have sharpened since Russia’s undertaking of a major war in Ukraine, announced the World Bank’s press service. The new projects totaling more than $30B will provide assistance in agriculture, food, social protection, water, and irrigation. It is clarified that the funding will include stimulating the production of food and fertilizers, increasing opportunities for food systems, promoting trade, and supporting vulnerable households and producers. It is planned to allocate $12B for new projects and $18B for existing projects directly related to strengthening security. The initiative is expected to be implemented over the next 15 months.