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 f

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.