Latest news with #PAFST
Business Recorder
04-05-2025
- Business
- Business Recorder
ADB to scale up food security support to $40bn by 2030
Asian Development Bank (ADB) announced on Sunday that it will expand its financial commitment to food and nutrition security in Asia and the Pacific to $40 billion by 2030, up from a previously pledged $14 billion. This was decided during the 8th ADB Annual Meeting in Milan, according to a press release from the bank. Speaking at the meeting, ADB President Masato Kanda said the expanded support, an additional $26 billion, aims to address the growing challenges posed by climate change, degraded resources, and food insecurity across the region. 'Unprecedented droughts, floods, extreme heat, and degraded natural resources are undermining agricultural production, while at the same time threatening food security and rural livelihoods,' said Kanda. 'This expanded support will help countries alleviate hunger, improve diets, and protect the natural environment.' PAFST launched to strengthen food security, climate resilience The funding will support a comprehensive program across the entire food value chain, from farming and processing to distribution and consumption. The program aims to generate diverse and nutritious food, create jobs, reduce environmental impacts, and strengthen agricultural supply chains. Of the newly announced $26 billion, $18.5 billion will go to governments through direct ADB support, while $7.5 billion will be mobilised for private sector investment. ADB approves $330mn financing to bolster Pakistan's social protection programmes ADB expects the private sector to contribute more than 27% of the total $40 billion by 2030. More than half of the world's undernourished population lives in developing Asia, where food systems account for 70% of water usage, 50% of habitable land, and 80% of biodiversity loss. The region's food systems also employ about 40% of its workforce. BII announces $75m facility with HBL to enhance food security ADB's initiative will also support digital technology, soil health improvements, and biodiversity conservation to enhance productivity and climate resilience. The bank is launching a $150 million Natural Capital Fund with backing from the Global Environment Facility and other partners to support agri-food projects that protect natural ecosystems. Founded in 1966, ADB is a multilateral development institution owned by 69 member countries, including 50 from the Asia-Pacific region.
Business Recorder
01-05-2025
- Business
- Business Recorder
PAFST launched to strengthen food security, climate resilience
PESHAWAR: Senior government officials, development partners, researchers, and representatives from the private sector gathered on Wednesday for a consultation marking the inception of the Pakistan Alliance for Food Systems Transformation (PAFST). The consultation was organized by the Sustainable Development Policy Institute (SDPI) in collaboration with the Global Alliance for Improved Nutrition (GAIN). With nearly 8.4 million Pakistan's population facing acute food insecurity and the agriculture sector under growing pressure from climate change, participants underscored the urgent need for a coordinated national platform to reform food systems. Despite the National Food Security Policy of 2018 and Pakistan's commitments under international agreements, progress has been slow, and gaps remain in integrating climate, nutrition, and food security efforts. Responding to this challenge, PAFST is launched to deliberate on food systems transformation in alignment with national, regional and international policies. It brought together key stakeholders to support policy reforms, promote climate-smart agriculture, and improve access to affordable and nutritious food. Furthermore, the event discussed competing political interests and demands, limited budgets, and tight timelines to strengthen food systems. The Alliance will also work to strengthen Pakistan's voice in global food systems discussions, including those under the UN Food Systems Summit and climate negotiations. The platform will be steered by the Ministry of National Food Security and Research, with SDPI serving as the secretariat and GAIN providing advisory support. The Alliance will focus on evidence based policy-making, market system improvements, climate resilience, and knowledge sharing, with a special emphasis on youth, women, and farmers. Copyright Business Recorder, 2025
