G8 Countries Pledge to Lift 50 Million Africans Out of Poverty
G8 leaders this week pledged to list 50 million Africans out of poverty via investments in agriculture.
“Today we commit to launch a New Alliance for Food Security and Nutrition to accelerate the flow of private capital to African agriculture, take to scale new technologies and other innovations that can increase sustainable agricultural productivity, and reduce the risk borne by vulnerable economies and communities,” the Group of Eight major industrial nations said.
“This New Alliance will lift 50 million people out of poverty over the next decade.”
This announcement came just one day after President Obama asked the private sector to invest in the initiative. But the endeavor is not without skepticism.
“The G8 have offered warm words on food security but have failed to make a specific pledge to simply maintain L’Aquila level financial commitments going forward,” said Katie Campbell, senior policy analyst for ActionAid USA. “In failing to deliver this, they have turned their backs on the women smallholder farmers who are so vital to food security in Africa.”
“Poor countries have presented the G8 country-led, sustainable, and coordinated plans for food security and agricultural development, but today the G8 gave them the cold shoulder,” Lamine Ndiaye, Oxfam’s Pan Africa Head of Economic Justice, said in a statement.
As the G8 summit takes place in Chicago this week, thousands of protestors are lining the streets to fight against the gathering. The G8 summit is a gathering of leaders from 8 nations with large economies. China, Brazil and India are excluded, but other large economies are included. Together, the nations comprise 51% of global GNP and 42.5% of global GDP.
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