Leaders from rich nations at the G8 summit committed $20 billion over three years to boost agricultural investment in poorer countries and fight hunger, $5 billion more than expected.

A statement after talks yesterday highlighted the new emphasis on farm aid to help poor nations feed themselves, although it said leaders were still committed to providing emergency food assistance.

The text did not make clear whether the $20 billion was all new funds, nor did it give details of individual countries' contributions. The United States - which championed the initiative - said it would contribute at least $3.5 billion over three years. Japan and the European Union are expected to step in with around $3 billion each, while Britain has pledged $1.8 billion.

The statement made no mention of a trust fund for the contributions to be managed by the World Bank, a proposal put forward by Washington in previous drafts but opposed by the EU.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.