Still, food cost about 24% more on average in 2011 than it did in 2010
The WBG is coordinating with UN agencies through the High-Level Task Force on the Global Food Security Crisis and with NGOs.
The WBG is supporting the Consultative Group on International Agriculture Research (CGIAR), which in 2008 – with the support of the World Bank and other donors – launched a reform process that culminated in the adoption of a strategic framework that sets out common goals, objectives, and results for the CGIAR’s new research programs, and the establishment of a multi-donor trust fund, which is administered by the World Bank. The new funding model enables the CGIAR to absorb and attract vastly more program funding, with a target annual budget of $1 billion by 2013, to which the World Bank contributes some $50 million per year. With agriculture production needing to rise by at least 70 percent to meet global food demand by 2050, and with significant time lags between the development of new agricultural technologies and their adoption by farmers, increased funding from the international community for global research is critically and urgently needed.
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