The European Commission today proposed to establish a special "facility for rapid response to soaring food prices in developing countries". The fund would be worth EUR 1 billion and would operate for two years, 2008 and 2009. This money would be in addition to existing development funds and would be taken from unused money from the European Union's agricultural budget. It would be provided to developing countries which are most in need, based on a set of objective criteria. The facility would give priority to supply-side measures, improving access to farm inputs such as fertilisers and seed, possibly through credit, and to safety net measures aimed at improving productive capacity in agriculture. The support would be paid via international organisations, including regional organisations. The proposal falls under the co-decision procedure and the Commission hopes that Council and Parliament can reach agreement by November in order not to lose the unused 2008 money.
Source: EU Commission
http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/1186&format=HTML&aged=0&language=EN&guiLanguage=en
P.S!
- I am afraid that I have lost many of your recent emails, specifically any sent to me between 15th August 2008 and 26th August 2008. Obviously I am annoyed at my stupidity, but also apologetic for all those people who took the time to write to me at what is, for most people, a busy time of year.
- If you see this post, and did write to me between the above dates, I can only apologise, and ask you to re-send your email to me.
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