Al Jazeera English
FRIDAY, MAY 16, 2008
3:23 MECCA TIME, 0:23 GMT
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 Caracas.
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