G7 has allocated €2.5bn (about $2.8bn) to supply fertilizer and bolster food
security in poorer countries, particularly in Africa, French finance ministry
said on Thursday. The funding will target supplies to countries the World Bank
identifies as at risk for food insecurity, covering 44 nations. The move
responds to disruptions in fuel and fertilizer shipments via the Strait of
Hormuz from the Persian Gulf linked to the Middle East war, which have raised
growers’ input costs and stoked global food-crisis concerns. The package follows
a G7 joint action plan in June to mitigate rising fertilizer prices; France is
the rotating G7 chair.
