Administration Seeks Funding for Ag in Developing Nations


The Obama administration wants to add $408 million to a global fund to boost food production and encourage good farming practices in the developing world, the Treasury Department announced on Thursday.

The fund, created after the Group of 20 meeting in Pittsburgh last year, will begin with contributions from the governments of Canada ($230 million), Spain ($95 million) and South Korea ($50 million) and from the Bill and Melinda Gates Foundation ($30 million). It is meant to provide money to poorer countries, particularly in Africa, that invest in local farming programs and agricultural development that is meant to increase crop yields, administration officials said.

Mr. Gates and Secretary Geithner have made their case for this new initiative in the pages of today’s Wall Street Journal.

Bill Gates is an advocate of biotech seeds and crops and supports their use to help alleviate global hunger.

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