“We welcome the commitments made by countries represented at L’Aquila toward a goal of mobilizing at least $15 billion over three years,” the statement said.

“We are committed to increase investments in short, medium and long-term agriculture development that directly benefits the poorest and makes best use of international institutions,” it added.

It said the combined effect of longstanding underinvestment in agriculture, price volatility and the economic crisis had led to increased poverty and hunger in developing countries.

The United Nations says the number of malnourished people has risen over the past two years and is expected to top 1.02 billion this year, reversing a four-decade trend of declines.

The statement said the G8 summit kept a strong commitment to ensure adequate emergency food assistance, but its focus on agricultural investments reflects a U.S.-led shift toward longer-term strategies to fight hunger.

The United States is the world’s largest aid donor of food — mostly grown domestically and bought from U.S. farmers.

via G8 summit to pledge $15 billion to boost food supply | Green Business | Reuters.