WASHINGTON (AP) - President Barack Obama is set to announce a
new $3 billion food security initiative to help alleviate hunger
and poverty in Africa.
The money is being put up by 45 private sector companies and
seeks to build on food security commitments made by the U.S. and
other countries. The White House says the initiative will be aimed
at agriculture growth and could raise 50 million people out of
poverty over the next 10 years.
Obama will announce the food security alliance during a speech
in Washington on Friday morning.
Later Friday, Obama will head to the presidential retreat at
Camp David for a meeting of the world's leading industrial nations.
The so-called G-8 leaders also will hold a meeting on food security
with the heads of four African nations.