The Asian Development Bank is ramping up its funding for food and nutrition security in Asia and the Pacific.
At its annual meeting in Milan, Italy, this week, the bank announced it would expand its food systems investments to $26 billion by 2030, bringing its total support to $40 billion between 2022 and 2030. Of the newly announced amount, $18.5 billion will go to governments and $7.5 billion will go to private sector investments.
“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, who took office in February, told reporters in Milan on Sunday.