US treasury and global banks unveil plan to ease food crisis from Russia’s war

US Treasury Secretary Janet Yellen speaking in Brussels (Olivier Matthys/AP)

The US treasury together with several global development banks and other groups have unveiled a multi-billion dollar plan meant to address a worldwide food security crisis exacerbated by Russia’s war in Ukraine.

Outlined ahead of the G7 finance ministers’ meetings, the treasury announced on Wednesday that several global development banks were “working swiftly to bring to bear their financing, policy engagement, technical assistance” to prevent starvation prompted by the war, rising food costs and climate damage to crops.