Tags: Obama | Food | Security

Obama to Tout $3B Pledge in Food for Africa

Friday, 18 May 2012 06:37 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

President Barack Obama is set to announce $3 billion in private sector pledges aimed at alleviating hunger in Africa and urge the world's biggest economies to make good on their own financial promises.

Obama was to unveil the food security initiative in a speech Friday in Washington that kicks off four days of international summitry. World leaders are gathering at Camp David, the presidential retreat in the Maryland mountains, later in the day for a summit of the Group of Eight leading industrial nations. Obama heads to Chicago on Saturday evening for NATO meetings.

Leaders at the G-8 economic summit have sought to focus some of their efforts in recent years on the plight of the developing world. At the 2009 summit in L'Aquila, Italy, Obama championed a food security initiative that resulted in $22 billion in pledges from G-8 leaders and other nations.

The private sector commitments Obama was announcing Friday build on that effort, administration officials said. The goal is to achieve sustained agriculture growth and raise 50 million people out of poverty over the next 10 years.

"It's not about replacing aid," said Mike Froman, a top Obama adviser for international economics. "It's about combining aid with private capital."

Obama is also expected to call on countries to fulfill the financial food security pledges they made in 2009. The pledge period for L'Aquila Food Security Initiative ends later this year, and some humanitarian groups say much of the promised money has not been dispersed.

The G-8 will release an accountability report this weekend detailing how much of the $22 billion is still on the sidelines. Administration officials say the U.S. is on track to fulfill its $3.5 billion pledge.

On Saturday, Obama and the other G-8 leaders will be joined at Camp David by the heads of four African countries — Ghana, Ethiopia, Tanzania and Benin — for a session on food security.

While administration officials say Obama will urge wealthy nations to maintain their commitment to alleviating hunger in Africa, the U.S. and other G-8 countries were not expected to announce any new financial pledges of their own.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

AFL-CIO's Trumpka: Dems to Win Tight Races

Tuesday, 21 Oct 2014 10:03 AM

Democrats will prevail against GOP candidates in several hotly contested races across the country in the midterm electio . . .

WashPost: Federal Workers Paid Leave Costs Taxpayers $775 Million

Tuesday, 21 Oct 2014 09:27 AM

Over a three-year period ending last fall, taxpayers paid close to a billion dollars for federal workers sent home on pa . . .

Indiana to Limit Food Stamps for Single Workers to 3 Months

Tuesday, 21 Oct 2014 07:46 AM

Able-bodied adults without children will be expected to enter a training program or go to work if they want to remain el . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved