UN Secretary-General Ban Ki-moon says that the world's poorest countries are facing "a real prospect of a new crisis in food and nutrition security."
Speaking in Istanbul at the start of the five-day UN Conference on the Least Developed Countries, Ban also said investment in the world's poorest nations would aid global recovery.
But he said the fight against corruption is critical to the proper use of funds aimed at reducing poverty.
"We expect there should be accountability and good governance on the part of developing countries," Ban said.
"Raising the level of good governance and the fight against corruption and corruptive practices. And whatever has been delivered should be used for the very purpose of this aid."
The summit is being chaired by Turkish President Abdullah Gul.
The head of the European Commission, Jose Manuel Barroso, also attended the May 9 opening.
Delegates are discussing a new 10-year development plan for the 48 poorest countries in the world -- where annual per capita income amounts to less than $745.
The grouping includes 33 states from Africa, 14 from Asia, plus Haiti.
compiled from agency reports