ADB announced plans to expand long-term support for food security and nutrition in the Asia- Pacific region, with total expected funding of up to $40 billion over the 2022-2030 period. (Illustration photo: ADB)
Speaking at the 58th Annual Meeting of ADB held in Milan (Italy), ADB President Masato Kanda emphasized: Drought, floods, extreme heat and natural resource degradation are seriously threatening agricultural production, food security and rural people's livelihoods.
Expanding support will contribute to promoting hunger eradication, poverty reduction, improving nutrition and protecting the environment, while opening up development opportunities for farmers and agricultural enterprises in the region.
The $26 billion supplement is planned to include $18.5 billion in direct support to governments and $7.5 billion in private sector investment.
ADB expects private sector investment to account for more than 27% of total program budgets by 2030, highlighting the important role of businesses in food system transformation.
This comprehensive financing program will cover the entire value chain from production, processing to distribution and consumption, and focus on diversifying food sources, promoting sustainable employment, minimizing environmental impacts and applying digital technology in agriculture.
By the end of 2024, ADB has committed $11 billion – equivalent to 80% of the initial investment target set for 2022. In 2025, the bank plans to allocate an additional $3.3 billion.
Notably, ADB is establishing a $150 million Natural Capital Facility with support from the Global Environment Facility and other partners to support innovative initiatives in agri-food systems in its developing member countries that focus on protecting and restoring natural resources sustainably.
Developing Asia is home to more than half of the world’s undernourished population. To support the transformation of food systems, the program will modernize agricultural value chains to improve access to healthy and affordable food for vulnerable populations.
The program will also invest in improving soil quality and conserving biodiversity – essential elements for productive agriculture that are increasingly threatened by climate change, pollution and loss of land and aquatic ecosystems.
In addition, the program will support the development of digital technologies and analytics to improve decision-making for farmers, agribusinesses and policymakers.
According to: nhandan.vn
Source: https://baothaibinh.com.vn/tin-tuc/4/223164/adb-cam-ket-40-ty-usd-thuc-day-an-ninh-luong-thuc-tai-chau-a-thai-binh-duong-den-nam-2030
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