Australia to provide A$1.6m to WFP in response to food price inflation
Thursday, 23 April 2009
Australia will provide A$1.6 million to Bangladesh to support the on-going emergency operation of United Nations World Food Program (WFP) to address the impact of food prices on the country's poorest people, said a press release.
Australian High Commi-ssioner in Bangladesh Dr Justin Lee said: "I am pleased to announce this contribution for WFP's emergency operation and hope this will help the poorest people overcome the shock of the food price inflation."
"Australia is concerned with the impact of food price inflation that has pushed an additional seven million people into extreme poverty. Australia will continue to focus its development assistance on lifting the extreme poor out of poverty," Dr Lee added.
A recent study jointly undertaken by WFP, UNICEF and Institute of Public Health Nutrition (IPHN) found that high food prices had a serious impact on household food security and nutrition. The study found that the real household income dropped by 12 per cent and expenditure on food increased by 10 per cent between 2005 and 2008. To cope with higher food prices, households have frequently borrowed money, resulting in spiraling debt.
Australian High Commi-ssioner in Bangladesh Dr Justin Lee said: "I am pleased to announce this contribution for WFP's emergency operation and hope this will help the poorest people overcome the shock of the food price inflation."
"Australia is concerned with the impact of food price inflation that has pushed an additional seven million people into extreme poverty. Australia will continue to focus its development assistance on lifting the extreme poor out of poverty," Dr Lee added.
A recent study jointly undertaken by WFP, UNICEF and Institute of Public Health Nutrition (IPHN) found that high food prices had a serious impact on household food security and nutrition. The study found that the real household income dropped by 12 per cent and expenditure on food increased by 10 per cent between 2005 and 2008. To cope with higher food prices, households have frequently borrowed money, resulting in spiraling debt.