Brazil launches initiative to end world hunger ahead of G20 summit

Brazilian President Luis Inacio Lula da Silva unveiled an initiative to end world hunger Wednesday ahead of a G20 summit in Rio de Janeiro.

The Task Force for a Global Alliance against Hunger and Poverty is a top priority, as Brazil -- the largest economy in Latin America and one of the world's biggest food exporters -- holds the G20 presidency.

Lula rallied support for his initiative among the world's largest economies ahead of the November G20 summit.

The initiative seeks to muster political support, financial resources and technical expertise to implement policies to eradicate hunger and poverty worldwide.

"Hunger is not only the result of external factors, but above all, of political decisions. Today, the world produces more than enough food to eradicate it. What remains is to create conditions for access to food," said Lula.

Although the initiative was presented to G20 members and will be officially launched during the summit from Nov. 18-19, the effort extends to any country willing to participate.

One main point in its financing is taxing the world's wealthiest people.

According to the state news agency Agencia Brasil, Finance Minister Fernando Haddad said a 2% tax on the wealth of the richest would provide annual revenues of $250 billion for the initiative.

Lula's initiative was enthusiastically received by those present and has been endorsed by the World Bank. World Bank President Ajay Banga also expressed his support.