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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (367468)	5/5/2008 9:10:16 AM
From: Secret_Agent_Man	Read Replies (2) \| Respond to of 436258

NONE worked, I tried!

To: Real Man who wrote (367468)	5/5/2008 9:58:11 AM
From: Giordano Bruno	Respond to of 436258

Rally Ho! Soaring Food Prices Put Over One Bln People At Risk Of Hunger And Malnutrition: ADB Chief 5/5/2008 9:53:40 AM Surge in food prices has significantly affected more than a billion people in Asia and the Pacific, placing them at a greater risk of hunger and malnutrition, the Asian Development Bank chief said Monday. In his opening address at the 41st Annual Meeting of the Board of Governors in Madrid, ADB President Haruhiko Kuroda said soaring food prices has eroded the purchasing power of people in these regions. He noted that the stocks of food grains are at their lowest levels in decades in a finely balanced production supply situation. Kuroda blamed reduced supplies, increased demands, record high-energy prices, steep depreciation of the US dollar, and trade restrictions imposed by some countries for the recent price surge. “The focus must now be on the soaring prices, and our immediate responses”, he said. According to Kuroda, prudent macroeconomic management is essential when inflation is driven by high food and energy prices. He warned that an absence of such measures could seriously undermine the global fight against poverty and erode the gains of the past decades. “The global fight against poverty will be won or lost in our region”. According to the ADB chief, money and ideas is key to achieving the vision of an Asia and Pacific free of poverty. A new report from the ADB said developing Asia must strike a balance between providing immediate relief to the poor and those vulnerable to rising food prices and in the short-term ensure inputs and credit availability to spur a strong supply response over the coming crop cycles. Further, Kuroda stressed that Asia's infrastructure demand, which is estimated at more than $300 billion a year, needs to be met to ensure inclusive growth and poverty reduction. He said the ADB is examining the potential of establishing a dedicated infrastructure financing facility to mobilize resources that complement its own market-based and concessional financing. “Climate change is a fundamental threat to achieving Asia's development objectives, and to life and livelihoods”, he said. He announced that the ADB would establish a Climate Change Fund, with an initial contribution from ADB resources of $40 million. The fund is meant to complement the organization's other funds that promote clean energy and energy efficiency. Strong partnerships with the private sector, across and outside the region, will be essential for development in the region, Kuroda noted. ADB, an international development finance institution, was established in 1966 and is headquartered in Manila. The institution is owned and financed by its 67 members, of which 48 are from the region and 19 are from other parts of the globe.