The G8 countries will this week announce a "food security initiative" at their summit, committing more than $12bn (£7.3bn) for agricultural development over the next three years, in a move that signals a further shift from food aid to long-term investments in farming in the developing world.

The US and Japan will provide the bulk of the funding, with $3bn-$4bn each, with the rest coming from Europe and Canada, according to United Nations officials and Group of Eight diplomats briefed on the "L'Aquila Food Security Initiative" - named after the Italian town where the summit is being held. Officials said that it would more than triple spending.