G7 leaders are announcing up to $5 billion funding in global food security Tuesday, in the latest effort to counter global effects from Russian President Vladimir Putin’s invasion of Ukraine.
More than half of the funds will come from the United States.
As part of Tuesday’s announcement, the Biden administration is committing $2.76 billion in funding “to support efforts in over 47 countries and regional organizations.”
It will include $2 billion in direct humanitarian aid and $760 million “for sustainable, near and medium-term food assistance to help enhance the resilience and productivity of food systems around the world, particularly in vulnerable regions,” a senior administration official told reporters Tuesday.
Russia's invasion pushing millions into poverty: According to White House estimates, Russia’s invasion of Ukraine and the subsequent destruction of agriculture equipment and blockade of grain shipments will push up to 40 million into poverty in 2022.
“Obviously, Putin’s actions have been at the core, and the thing from which you can draw a direct line to all of the vulnerabilities that we're seeing around the world in terms of food security — his actions have strangled food and agricultural production, using food as a weapon of war,” the official said.
The US' commitment will come from the second Ukraine supplemental assistance package lawmakers passed last month, and is expected to be allocated and delivered by the end of the fiscal year.