The Asian Development Bank (ADB) has unveiled plans to significantly expand its support for food and nutrition security in Asia and the Pacific by an additional $26 billion. This increase brings the total funding for food security initiatives to $40 billion, covering the period from 2022 to 2030, reports UNB.
The expanded program will encompass the entire food production process—from farming and processing to distribution and consumption. By providing financing and policy support, ADB aims to help the region create diverse and nutritious food, generate jobs, and strengthen agricultural supply chains, all while reducing environmental impacts.
“Unprecedented droughts, floods, extreme heat, and degraded natural resources are undermining agricultural production and threatening food security,” said ADB President Masato Kanda at the 58th Annual Meeting in Milan. “This expanded support will help countries alleviate hunger, improve diets, and protect the environment, while offering new opportunities for farmers and agribusinesses.”
This new funding builds on a prior $14 billion pledge made in 2022, with 80% already committed. ADB’s $26 billion expansion includes $18.5 billion in direct government support and $7.5 billion in private sector investments. The program aims for the private sector to contribute more than 27% of total funding by 2030, highlighting its crucial role in transforming food systems.
With over half of the world’s undernourished population residing in developing Asia, the program will modernize agricultural value chains and improve access to affordable, nutritious food for vulnerable populations. It will also focus on boosting soil quality, conserving biodiversity, and utilizing digital technologies to improve decision-making in agriculture.
A cornerstone of the initiative is the establishment of the Natural Capital Fund, a $150 million blended finance vehicle that will support sustainable agri-food system projects across ADB’s developing members. The fund aims to protect and restore natural resources while promoting resilient food systems across the region.
This expanded funding is crucial as food security in Asia-Pacific faces growing challenges due to environmental degradation, population growth, and economic instability. Through this initiative, ADB is positioning itself as a key player in building sustainable, resilient, and inclusive food systems.
Bd-pratidin English/ Jisan
