Hugo Chavez, the Venezuelan president, has called on European and Latin American nations to set up a $1bn fund to help provide food and medicine for the poor.
Chavez said on Thursday that he was willing to commit $365m of the country's oil income to the fund, as global food and energy prices continue to rise. "[The fund] will allow us to produce, buy and distribute food and medicines to the homes of the poorest families," he said at a news conference in
Leaders from four Latin American countries have already set up a $100m food security fund for staples such as rice, beans and corn in a bid to offset rising food prices that have sparked global protests. The presidents of