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28 Mar 2006
WFP says its emergency cash reserves are dangerously low
LONDON (AlertNet) - The U.N. World Food Programme has made an urgent appeal for additional funds so it can continue to feed more than 50 million people in Africa this year, saying it has been forced to draw on its emergency reserves to finance immediate food needs.
"We have put financial systems in place to help ensure people do not starve if donations are not immediately forthcoming,” James Morris, WFP Executive Director, said in a statement. “But these internal loans cannot be repeated if the international community does not step in to replenish funds."
The agency warned that cash in one of its main reserve accounts - which allowed it to respond to the Kashmir earthquake among other crises - has now fallen to a record low balance of less than $20 million.
In the second half of 2005, WFP borrowed from its reserves to feed millions in southern Africa. Although donor contributions have now covered two-thirds of the $113 million used in this operation, there is still a shortfall of $37 million.
Other countries where WFP has had to borrow heavily from its own reserves are the Democratic Republic of Congo and Sudan. It said it was now seeking “a generous response” from donors.
"Amid increasing pressure on us to respond to crises, we urge the international community to remember that we can only provide as much assistance as we ourselves receive – whether in cash or food. We have to appeal for every cent that we spend on the hungry poor," Morris said.
According to the WFP, the agency provides food to an average of 90 million people every year, including 61 million hungry children, in at least 80 of the world's poorest countries.
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Last updated:Tue Mar 28 12:23:32 2006