October 16, 2026
The G7 countries pledged to allocate $2.5 billion to support food security in the countries most vulnerable to risks, amid the crisis of rising global energy prices and its direct repercussions on fertilizer supplies and food costs.
This came according to what was announced by the French Minister of Economy, Roland Lescure, on Thursday, on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Bangkok. Lescor pointed out that the World Bank has identified 44 countries that may face a food security crisis as a result of the sharp rise in energy prices.
The French minister explained that the financial pledge aims to help the poorest countries, with a special focus on the fertilizer sector as an essential component of agricultural production, at a time when supply disruptions and high energy costs are exacerbating pressure on global food prices.
In a separate file, Lescure announced that the G7 countries had succeeded in raising 260 million euros ($291 million) to contribute to repairing the protective dome at the site of the Chernobyl nuclear disaster, which was damaged as a result of Russian attacks in February 2025.
It is noteworthy that France, as the current president of the G7, estimated the cost of the reforms last March at about 500 million euros, calling on members to finance, while the United States provided $100 million last April.
Lescure stressed that there is a need to secure additional millions of euros, noting that a financial pledging conference will be organized in the capital, Paris, next November to collect more funding, stressing at the same time the continued firm support provided by the group’s countries to Ukraine.
