MEXICO CITY, June 24 (Xinhua) -- World Bank (WB) President Robert Zoellick said Tuesday the organization is preparing a mechanism to provide more financial aid for poor countries in addition to the 1.2 billion U.S. dollars in funds against global food crisis.

    "We are talking with other countries to build a multilateral fund," Zoellick told the first America-Caribbean Finance Ministerial meeting in Mexico's Cancun. "I have just come back from Russia, which is very probable to support us."

    "Now we are going to talk with other organizations to achieve it," he added.

    The WB established in April a fund of 1.2 billion U.S. dollars for countries most affected by food crisis, with an initial grant at 200 million dollars.

    According to the WB, the international prices of wheat, corn and meat have surged by 152 percent, 122 percent and 20 percent respectively over the past two years.

    The food and energy crisis is threatening 6 million people in Central America and the Caribbean area, especially in Haiti.

    Meanwhile, the WB said 50 million people are in extreme poverty in Latin America, accounting for about 25 percent of the regional population, compared with 30 percent years ago.

    Poverty has been reduced in Peru, Panama and Brazil, where the resource transfer programs are operating for poor people.