
ADB commits $26 billion more to food & nutrition security in APAC
Synopsis The Asian Development Bank (ADB) has significantly increased its commitment to food and nutrition security in Asia-Pacific, raising it to $40 billion by 2030. This expanded support aims to combat hunger, enhance diets, protect the environment, and create opportunities for farmers and agribusinesses. The Asian Development Bank (ADB) Sunday announced a significant topup to its long-term food and nutrition security support in Asia and the Pacific, adding $26 billion to take the total commitment to $40 billion over 2022-2030
ADVERTISEMENT "This expanded support will help countries alleviate hunger, improve diets and protect the natural environment, while providing opportunities for farmers and agribusinesses," ADB president Masato Kanda said at the multilateral lender's 58th annual meeting here. He said this will drive change across the entire food value chain, from how food is grown and processed to how it is distributed and consumed.
"Unprecedented droughts, floods, extreme heat, and degraded natural resources are undermining agricultural production, while at the same time threatening food security and rural livelihoods," he said.
The new ambition builds on ADB's September 2022 pledge to invest $14 billion by 2025 to improve food security and ease the regional food crisis. By the end of 2024, ADB has committed $11 billion-about 80% of the original allocation. The $26 billion in additional funding announced Sunday will consist of $18.5 billion in direct ADB support for governments and $7.5 billion in private sector investments.
ADB is also establishing the Natural Capital Fund - a $150 million blended finance vehicle - with anchor support from Global Environment Facility.
(You can now subscribe to our Economic Times WhatsApp channel)
(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.
NEXT STORY

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
an hour ago
- Economic Times
Stock market update: Nifty Auto index advances 0.17% in a weak market
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price


Economic Times
an hour ago
- Economic Times
Coforge shares soars 6% after JP Morgan sees more upside, bets on growth and margin expansion
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price


India.com
an hour ago
- India.com
PKR 76007000000000: Pakistan debt crisis exposes fragile economic condition of..., each Pakistani under huge debt of...
PKR 76007000000000: Pakistan debt crisis exposes fragile economic condition of..., each Pakistani under huge debt of... Pakistan may keep issuing threats by taking loans from the International Monetary Fund, World Bank, ADB to China, but its condition remains bad. This can be gauged by looking at the latest figures of Pakistan Debt, which testify to the crisis in Pakistan's economy. The report of the Pakistani Economic Review for the financial year 2024-25 has come as a shock for the poor Pakistan. It has been told that Pakistan's debt has now increased to 76,000 billion Pakistani rupees in the first nine months of the current financial year. The economy rate is also estimated to be 2.7% due to this mountain of debt. Adding more