(CNN) — Leaders of G7 countries are ear-marking up to $5 billion in funds to help address global food insecurity.

They say the move is needed to counter the production problems caused by Russia’s unprovoked invasion of Ukraine.

READ MORE: Michigan Reports 23,165 New COVID-19 Cases, 103 Deaths Over The Last Week

The United States will foot more than half of the bill, with President Joe Biden committing nearly $3 billion toward the effort.

READ MORE: Michigan Gov. Whitmer Proposes Suspending Sales Tax On School Supplies

The White House says the Russian attack has hindered grain shipments which will force tens of millions of people into poverty this year.

The announcement comes on the final day of the G7 Summit in Germany.

MORE NEWS: Woman, Child Found Dead Inside Macomb County Home Identified

The-CNN-Wire™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.