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Obama Announces $3 Billion in Food Aid for Africa

Saturday, 19 May 2012 09:11 AM

President Barack Obama announced a new public-private partnership on Friday to help African farmers and prevent starvation on the African continent.

The president said a consortium of agribusiness giants, including DuPont, Monsanto and Cargill, along with smaller African-based companies, would commit $3 billion for projects that help farmers create local markets and improve supply chains.

In his speech, just before the start of the G-8 meeting at Camp David, Obama talked about the need to address “unacceptable” starvation. He said fighting hunger in impoverished areas of the world benefits American companies by expanding the world market and advancing world peace.

‘It’s a moral imperative, it’s an economic imperative and it’s a security imperative,” he said, noting that Africa once was an exporter of agricultural products.

“There is no reason why Africa cannot feed itself,” he added.

In his announcement of aid to Africa, Obama is building on the work of the 2009 G-8 meeting in L’Aquila, Italy, which sought to mobilize $22 billion over three years to increase investments in poor countries and improve food security.

But many countries have yet to fulfill the financial food security pledges they made that year, and the G-8 leaders will release an “accountability report’ this weekend detailing how much of those funds are still outstanding. Administration officials said the United States has fulfilled its obligations, and the new public-private partnership does not call for further U.S. investment.

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

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President Barack Obama announced a new public-private partnership on Friday to help African farmers and prevent starvation on the African continent.
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2012-11-19
Saturday, 19 May 2012 09:11 AM
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