Brussels, 18/07/2008 (Agence Europe) - On Friday 18 July 2008, the European Commission published a draft regulation to set up a rapid reaction fund to deal with high food prices in developing countries. The fund will have a budget of €1 billion (€750 mil in 2008 and €250 mil in 2009), provided from un-used funding in the EU's farm budget (see Europe 9704 for details).
The brainchild of EU Development and Humanitarian Aid Commissioner Louis Michel and Agriculture Commissioner Marianne...