L'AQUILA, July 10 (RIA Novosti) - Leaders of the Group of Eight rich nations are expected to announce an initiative worth up to $15 billion to boost global food security on the last day of their summit in Italy.

The funds will be aimed at helping poor nations, particularly in Africa, to develop national agriculture. Several African leaders arrived at the mountain town of L'Aquila on Thursday to take part in the talks.

The summit host, Italian Prime Minister Silvio Berlusconi, said on Thursday: "We will approve about $10-$15 billion for all the people in the world who are suffering from hunger."

U.S. deputy national security adviser Denis McDonough told reporters that Washington's contribution to the G8 effort could total around $3 billion over a three-year period.

The G8 initiative will focus on agricultural development rather than food aid. However, World Bank President Robert Zoellick, who is attending the summit, stressed that food aid is still necessary.

The leaders of Libya, Algeria, Angola, Nigeria and Senegal will take part in Friday's talks, as well as Ethiopian Prime Minister Meles Zenawi, who currently heads the New Partnership for Africa's Development (NEPAD).

The first two days of the summit focused on climate change and the economic crisis.