Restrictions on food exports and price controls make food products even more scarce
On Monday, during a visit to the facility that feeds Ukrainian refugees in Warsaw's World Central Kitchen, US Treasury Secretary Janet Yellen pointed to the escalating food crisis caused by the cessation of grain exports from Ukraine and Russia.
>
The US Treasury Secretary said that this week he will publish a new report on the steps taken by international financial institutions to address food insecurity – a problem exacerbated by the Russian invasion of Ukraine.
“Obviously that Russia's war against Ukraine has exacerbated the problem of food security around the world, – said Ellen. “The war is not only affecting Ukraine, and this is something that worries us a lot.”
Read also: More than 275 million people have faced food shortages due to the war in Ukraine – US Treasury Secretary
The report will be presented at the upcoming meeting of financial leaders in Bonn . It will emphasize that institutions such as the World Bank, the International Monetary Fund and the European Bank for Reconstruction and Development have “stepped up to provide emergency support” to countries to increase food production, supply and cope with rising prices.
The US Treasury Secretary convened the heads of these institutions in April during a spring meeting between the IMF and the World Bank to develop plans to increase support for food production.
Yellen called on the Senate to pass a bill on additional costs of $ 40 billion , which includes funding for Ukraine and $ 5 billion to strengthen food security.
According to Gallina Winslett, World Bank Country Director for the EU, Europe and Central Asia, the World Bank has already provided financial support to Ukraine. exceeded the $ 1.95 billion out of the promised $ 3 billion. She stressed that the bank also pays special attention to projects to increase the productivity of food systems in order to reduce food losses and increase efficiency, including more efficient use of fertilizers and the abandonment of chemical fertilizers.
