Loans to poor nations aim to stem rising food cost
THE Asian Development Bank has rushed to offer cheap loans to poor countries in the region to help them cope with the world food crisis. Warning of a backwards slide in economic development that could potentially plunge millions of people back into poverty, bank president Haruhiko Kuroda told a meeting in Madrid: "The cheap food era may be over." Rising fuel prices, economic subsidies, poor farming methods and climate change have contributed to a sharp increase in the cost of staple crops.