United Nations Radio

New ways to finance development are being discussed at the UN at the high-level meeting of the Economic and Social Council.

The participants include the World Bank, The International Monetary Fund, the World Trade Organization and the UN Conference on Trade and Development. The meeting is addressing the food availability crisis caused by rising food and fuel prices. According to the World Bank, doubling of food prices over the last three years threatens to push 100 million people in developing countries deeper into poverty. The crisis could also mean several lost years in the fight against hunger. UN Secretary-General Ban Ki-moon, opening the meeting, stressed the need for emergency measures to avoid starvation in many regions, as well as for a long-term increase in grain production.

"The international community will also need to take urgent and concerted action in order to avoid the larger political and security implications of this growing crisis. The UN needs to examine ways to lead a process for the immediate and longer-term responses to these global problems."

At the World Bank meeting over the weekend its president Robert Zoellick proposed a "New Deal for Global Food Policy". He called for more aid to provide food to the needy, as well as seeds for planting in the new season. He also urged the donors to quickly respond to the World Food Programme's appeal for funds which has been increased from $500 million to over $700 million.

Reporting for UN Radio, I am Elena Vapnitchnaia.

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