G8 pledges $20 billion in food aid

L'AQUILA, Italy, July 10 (UPI) -- Group of Eight leaders meeting in Italy said Friday they would commit $20 billion to help the world's poorest countries in agricultural development.

"(We) have committed to investing $20 billion in food security -- agricultural development programs to help fight world hunger," U.S. President Barack Obama said during a news conference at L'Aquila, site of the summit. "This is in addition to the emergency humanitarian aid that we provide."

Obama said the pledged $20 billion exceeded an already agreed-to $15 billion, representing "an additional $5 billion of hard commitments."

"We do not view this assistance as an end in itself," he said. "We believe that the purpose of aid must be to create the conditions where it's no longer needed -- to help people become self-sufficient, provide for their families and lift their standards of living."

Obama said G8 participants endorsed a U.S. approach to food security that provides "a coordinated effort to support comprehensive plans created by the countries themselves, with help from multilateral institutions ... along with significant and sustained financial commitments from our nations."

Non-government organizations have expressed skepticism about new funding, saying they feared it may be previously pledged money dressed up in a new package, the EUobserver reported.

"Aid figures are notoriously opaque but latest intelligence suggests so far only the U.S. and Spain are coming up with serious new money," said Helen Palmer, a spokeswoman for One, led by singer-activist Bob Geldof and U2's Bono.

In a statement issued by the White House, the administration said the United States would seek to increase its annual investment and provide at least $3.5 billion over the next three years.