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US,Canada, World Bank to aid food program

US,Canada, World Bank to aid food program

The United States, Canada and the private sector arm of the World Bank are pledging $100 million to a program designed to strengthen food security in low-income countries and increase private sector investments.
U.S. Treasury Secretary Timothy Geithner said Friday an increase in these investments will help transform small farmers into successful entrepreneurs. Many small farmers are women.
Canada will contribute $50 million Canadian dollars, the United States $25 million and the bank's International Finance Corp. $25 million.
Canadian Finance Minister Jim Flaherty said agriculture accounts for the majority of the labor force in many poor countries but only receives a small part of total commercial bank lending. He said the innovative Global Agriculture and Food Security Program that is getting the money can help fill this gap.