U.N.'s World Food Program Cried Poverty While Sitting on Cash Stockpile of More Than $1.22 Billion
"These people are getting about as bad as the Red Cross for false claims !"Just weeks before it announced the onset of a global food crisis and the urgent need for donors to provide at least $775 million in additional funding, the World Food Program (WFP) was sitting on a cash and near-cash stockpile of more than $1.22 billion.
The cash stockpile was in addition to pledges for an additional $1.33 billion, all of which left the organization with more than $2 billion in anticipated cash and reserves just before it made its most recent urgent appeal.
In all, the auditors declared, WFP had added an additional $91 million in cash assets over the 12-month period, leaving the U.N.’s emergency food supplier with roughly the same reserve assets it held in 2005.
Asked a series of questions about the reserves by email yesterday, WFP had not replied by the time this story was published.
Ever since WFP first announced the looming crisis of food aid for the world’s poorest people — based largely on dramatic international hikes in food costs —
Initially, Sheeran announced that some
$500 million was needed, though she added that would not fully fund such things as school food programs for some 20 million hungry youngsters. By the time of the aid conference, attended largely by U.N. agencies and World Bank representatives, the needed funding
had risen to $775 million.By the time the conference ended, Secretary General Ban put the shortfall
at roughly $1 billion.........."
Up and Up it goes !"Ban also announced that a U.N. task force dealing with the food crisis would need as much as $1.6 billion in additional funding for seed programs and other means of expanding the global food supply.
On Thursday, President George W. Bush called on Congress to add $770 million in new international
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