By Abdullahi Lukman
The Asian Development Bank (ADB) has announced an expanded commitment of $26 billion to bolster long-term food and nutrition security in Asia and the Pacific, bringing its total investment in food security initiatives to $40 billion from 2022 to 2030.
Revealed during ADB’s 58th Annual Meeting in Milan, the enhanced funding aims to support the entire food value chain—from farming and processing to distribution and consumption—by providing financing and policy support to governments and private sector entities.
The initiative is designed to improve food availability, create rural jobs, reduce environmental impacts, and enhance the resilience of agricultural supply chains.
“Unprecedented droughts, floods, extreme heat, and degraded natural resources are undermining agricultural production and threatening food security,” said ADB President Masato.
“This expanded support will help countries alleviate hunger, improve diets, and protect the natural environment.”
Of the newly announced $26 billion, $18.5 billion will go toward public sector programs, while $7.5 billion will support private sector investments. By 2030, ADB expects private sector contributions to account for over 27% of the entire $40 billion initiative, underscoring the sector’s critical role in transforming food systems.
The new funding builds on ADB’s 2022 pledge of $14 billion by 2025, of which $11 billion has already been committed, with an additional $3.3 billion scheduled for 2025.
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The expanded program reflects growing urgency to address worsening food insecurity and environmental degradation in the region.
More than half of the world’s undernourished people live in developing Asia, where food systems face severe stress from malnutrition, biodiversity loss, and climate change.
Food systems in the region account for 70% of global water use, 50% of habitable land, and 80% of biodiversity loss, while employing 40% of the workforce.
To address these challenges, the ADB’s initiative will modernize agricultural value chains, improve access to affordable, nutritious food for vulnerable populations, and invest in sustainable practices such as soil quality improvement and biodiversity conservation.
It will also support digital innovations to enhance decision-making for farmers, agribusinesses, and policymakers.
In support of these efforts, ADB is also establishing the Natural Capital Fund, a $150 million blended finance vehicle backed by the Global Environment Facility, with additional contributions expected from partners such as the Global Agriculture and Food Security Program.
The fund will finance agri-food system projects that sustainably manage and restore natural capital.
Founded in 1966 and owned by 69 member countries, ADB continues to play a leading role in promoting inclusive and sustainable development across Asia and the Pacific, leveraging partnerships and innovative financial tools to address the region’s most pressing challenges.
