ADB plans $14b to ease food crisis in Asia, the pacific

The Asian Development Bank (ADB) on Tuesday announced plans to provide at least $14 billion over 2022–2025 in a comprehensive program of support to ease a worsening food crisis in Asia and the Pacific.

The fund will also be used to improve long-term food security by strengthening food systems against the impacts of climate change and biodiversity loss, said a press release.

The assistance expands ADB’s already significant support for food security in the region, where nearly 1.1 billion people lack healthy diets due to poverty and food prices which have soared to record highs this year.

The funding will be channeled through existing and new projects in sectors including farm inputs, food production and distribution, social protection, irrigation, and water resources management, as well as projects leveraging nature-based solutions.

ADB will continue to invest in other activities which contribute to food security such as energy transition, transport, access to rural finance, environmental management, health, and education.