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EU approves emergency food fund
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BRUSSELS, Belgium - The EU has approved the creation of a special euro1 billion (US$1.26 billion) emergency fund to help poor countries cope with food shortages.
The European Union assembly says no more than 35 priority countries should be targeted for aid from the two-year fund. The EU lawmakers overwhelmingly approved the plan Thursday after member states already had done so.
The parliamentarians say issues such as dependence on food imports, local food prices and destabilizing food shortages will determine if countries are a priority.
The new fund — which is expected to be operational in the new year — will be funded with cash that was not spent in this year's EU farm budget.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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