The World Bank (WB) will set up a trust fund to assist the agricultural sector in poor and under developed countries with an initial 1.5 billion USD, said it’s President Robert Zoellick on Nov. 30, warning of the risk of another food price crisis.

Crop shortages in India and the Philippines , combined with increasing speculation on the world food market have increased the threat of food prices rising dramatically, as they did in early 2008, said Zoellick.

The WB president blamed the price hikes on droughts and unstable weather conditions, falling stock prices, closer links between food and fuel prices, a growing speculation and increase in export barriers.

The WB and the World Food Programme (WFP) applauded the initiative to provide free meals to school children in poor countries, who are the most vulnerable to hunger and poverty.

According to the WB and the WFP, this is seen as an effective way to ensure that children get access to education and healthcare services, which will help several governments to fulfill their UN Millennium Development Goals./.