US President Obama launched the New Alliance for Food Security and Nutrition at the May 2012 G8 summit at Camp David. It aims to address years of underinvestment in agriculture, and to meet the financing gap for global food security, in order to help pull 50 million people out of chronic poverty over 10 years. Critics of the New Alliance question whether it will help poor farmers. and charge that the New Alliance represents a “new form of colonialism”. The UK Department for International Development (DFID) supports the scheme and has committed £600 million to it.