UN chief says up to US$20 billion (euro12.83 billion) needed to increase food production

As much as US$20 billion (euro13 billion) may be needed each year to increase food production to combat hunger worsened by soaring fuel and food prices, U.N. Secretary-General Ban Ki-Moon said Wednesday.

The U.N. chief told a news conference at U.N. summit on the food crisis that most of that money "will come from concerned countries themselves," but contributions will be needed from the World Bank, the International Monetary Fund and the World Trade Organization, and development banks.

"Perhaps as much as US$15 billion to US$20 billion" (euro10 billion to euro13 billion) will be needed annually, he said.

Summit delegates have …