68444 GLOBAL MONITORING REPORT 2012 FOOD PRICES, NUTRITION AND THE MILLENNIUM DEVELOPMENT GOALS CHAIR’S SUMMING UP Meeting of the Committee of Whole April 5, 2012 Executive Directors expressed support for the findings and main messages of the Global Monitoring Report 2012 (SecM2012-0155). They valued the conclusion that higher and more volatile food prices have a negative impact on a range of Millennium Development Goals (MDGs) and that a multisectoral policy response is needed, tailored to each county’s initial condition, including its social and political environment. Directors emphasized the need to improve productivity in agriculture, enhance regional trade integration, and focus on climate change issues to increase access to global food markets and to further Bank policies in this regard. Directors noted the importance of complementary and cohesive policies to improve nutrition and increase the use of social safety nets, particularly to assist urban- and female-headed households. Alongside, they stressed the catalytic role of the private sector. They also emphasized the need to improve statistical capacity and further reflect on wealth accounting. Directors highlighted that higher food prices can negatively impact development agendas and potentially affect children’s long-term development. They were pleased that the GMR provides useful examples on how nutritional programs could be integrated in various sectoral operations; and stressed that these should be mainstreamed. The Bank should continue to strengthen support to meeting the MDGs. Additionally, Directors agreed that amending Official Development Assistance (ODA) commitments might be needed given that ODA for nutrition represents a mere 3 percent of total aid committed to agriculture, food, and nutrition combined. Directors welcomed the fact that two MDGs were met ahead of schedule and that goals related to primary school completion rate and gender equality in primary and secondary education were on track to be met. They acknowledged that the MDGs on child and maternal health and access to improved sanitation facilities are most likely not going to be met by the 2015 deadline and that a concerted effort is needed by the donor community – including new donors, philanthropists, and NGOs – to attain those goals. Directors looked forward to further guidance from the Governors in the context of the Development Committee discussions.                                                               This Summary is not an approved record.