Remarks by World Bank Group President Malpass at the G7 Ministerial Conference on Uniting for Global Food Security

These remarks were delivered by World Bank Group President Malpass at the G7 Ministerial Conference on Uniting for Global Food Security on June 24, 2022. He said food systems were fragile even before Russia invaded Ukraine, and the war has now accelerated a global food crisis. He recommended the following actions that countries should take to mitigate impacts of higher food prices and make sure that the most vulnerable continue to have food: First, support vulnerable households through social safety nets and well-targeted cash transfers; Second, enhance the next season's production by facilitating farmers' access to agriculture inputs such as fertilizers; Third, invest in strengthening the resilience of food systems; and fourth, and most importantly, facilitate increased trade by building international consensus. He said that to help countries taking these actions, the World Bank Group is making up to thirty billion available over the next fifteen months. He highlighted that together with the G7 Presidency, the World Bank has co-convened the Global Alliance for Food Security - an alliance for countries and organizations to support existing initiatives and catalyze an immediate and concerted response. He concluded by saying that he looks forward to more opportunities to work with G7 member countries and other organizations