“The World Bank says food prices are at “dangerous levels” and have pushed 44 million more people into poverty since last June.
According to the latest edition of its Food Price Watch, prices rose by 15% in the four months between October 2010 and January this year.
Food price inflation is felt disproportionately by the poor, who spend over half their income on food.”
As a philanthropist, how would you approach the problem of unaffordable food?
The World Bank is an organization whose job it is to help poor countries achieve economic development through loans and advice. It gives out about $30 billion every year to 100 countries.
The IBRD, which stands for the International Bank for Reconstruction and Development, is the arm of the World Bank that focuses on middle-income and creditworthy poor countries. The IBRD strives to promote sustainable, equitable and job-creating growth, reduce poverty, and address issues of regional and global importance.
The IDA, which stands for the International Development Association, is the arm of the World Bank that focuses on the poorest countries in the world. It aims to reduce world poverty by issuing interest-free loans and grants.
The World Bank is comprised of two institutions — the IBRD (International Bank for Reconstruction and Development) and the IDA (International Development Association) — and collectively has the common goal of providing technical and financial assistance to developing countries around the world.
Basically, the World Bank gives money – in the form of low-interest loans and grants – to developing countries for many different developmental purposes: education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management.