According to a new report, eliminating world hunger by 2030 will require an additional $160 annually for each person living in extreme poverty.

Although progress has been made in recent decades, the report states nearly 800 million people around the world still don’t have enough food to eat, Agri-Pulse reported.

Prepared by the Food and Agriculture Organization of the United Nations (FAO), the International Fund for Agriculture Development (IFAD) and the World Food Programme (WFP), the report also states that for an additional $267 billion per year, chronic undernourishment could be eradicated by 2030.

Our report estimates that this will require a total investment of some $267 billion per year over the next 15 years. Given that this is more or less equivalent to 0.3 percent of the global GDP, I personally think it is a relatively small price to pay to end hunger, FAO Director-General Graziano da Silva said.

The report also points out that the current approach will still have 650 million people experiencing hunger by 2030.