"OIL"

The head of the Food and Agriculture Organization of the United Nations (FAO) today called for greater funding for agriculture to ensure there’s available and accessible food in crisis situations, noting that conflict “remains the single greatest driver of hunger.” FAO

The United Nations' Secretary-General warned on Wednesday that “there isn’t a moment to lose” to stop the SAFER oil tanker, a rusting ship near the Yemeni coast, from spilling more than 1 million barrels of oil into the Red Sea. UNIFEED

Briefing by Farhan Haq, Deputy Spokesperson for the Secretary-General.

Briefing by Farhan Haq, Deputy Spokesperson for the Secretary-General.

Russia and Ukraine combined account for 30 percent of the global wheat exports and 20 percent of global maize exports. Any disruption in production or supply could drive prices up, affecting millions of vulnerable families, especially in hunger hotspots. WFP

Third humanitarian convoy under way to evacuate civilians from besieged Ukraine city, Secretary-General tells Security Council.

The IMF sees a challenging economic outlook for Africa due to the war in Ukraine and lingering impact of pandemic, but there are reasons to be optimistic as well, Africa Department Director Abe Selassie told reporters in Washington on Thursday. IMF

The war in Ukraine and sanctions on Russia are exacerbating the divergence in recovery prospects for the Middle East and Central Asia, announced the IMF on Wednesday. IMF

The World Bank Group said on Tuesday that the war in Ukraine has dealt a major shock to commodity markets, altering global patterns of trade, production, and consumption in ways that will keep prices at historically high levels through the end of 2024. WORLD BANK

Ukrainian President Volodymyr Zelenskyy told a ministerial roundtable hosted by the World Bank Group and the Ukrainian Government “with your financial support we will quickly rebuild our nation.” WORLD BANK