MANAGUA, May 6 (Xinhua) -- Two Latin American groups and Belize, Mexico and Haiti have worked out a proposal for a 400-million-U.S.dollar fund to boost food production across the region, Nicaragua's agriculture minister said Tuesday.

    The proposal, put together by the countries and the Central American Integration System (SICA) and the Bolivarian Alternative for the Americas (ALBA) in April in Nicaragua's capital Managua, will be presented to a Wednesday emergency meeting amid skyrocketing food prices across the world, said Ariel Bucardo.

    The money will be used to boost yields on milk and basic staple foods, such as rice, corn, beans and sorghum, the most indispensable items for people in the region, said Bucardo.

    "Producers will be able to get technology, financial support and production materials" with the fund, said the minister.

    Nicaragua would get some 150 million dollars from the fund, Bucardo said.

    Guatemala, Nicaragua and Honduras were abundant in arable land, Mexico and Venezuela had financial resources, and Cuba and Mexico were rich in technologies, which would be combined to relieve pressure on the region amid a global food shortage, Bucardo added.

    Hosted by Nicaraguan President Daniel Ortega, Wednesday's summit will discuss measures Latin America can take to ensure domestic supplies of staple foods, as well as establishing fair prices for the region's food exports.