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World Bank to offer $30 billion over 15 months to ease looming food crisis-Treasury report -Breaking


© Reuters. FILE PHOTO – The United States Department of the Treasury can be seen at Washington, D.C., U.S.A, August 30, 2020. REUTERS/Andrew Kelly

BONN, Reuters – A $30 billion loan from the World Bank is being made to address a crisis in food security caused by Russia’s invasion of Ukraine. The report was released Wednesday by the U.S. Treasury on plans for food security from financial institutions around the world.

According to the Treasury report, $12 billion will be used for new projects while $18 billion is available from funds that were approved and have yet to be disbursed.