Asian Development Bank announced a $14 billion assistance to fight food insecurity in Asia Pacific.The funding to address food insecurity in Asia Pacific was announced as part of the 55th ADB annual meeting.It will be used to combat food crisis caused by climate change and Russian war in Ukraine.The financial aid will be provided for the period of 2022-2025.While 3.3 billion USD will be spent in 2022, 10.7 billion USD will be used from 2023 to 2025.
In 2022, USD 2.5 billion of this assistance will be used to repurpose and strengthen the existing projects and launch new projects in agriculture, natural resources and rural development.800 million USD will be used by private sector for finance operations of trade and supply chain, direct agribusiness lending, microfinancing programmes and lending to financial institutions.This comprehensive initiative will ensure long-term food security in Asia and Pacific by strengthening food systems and making them resilient to climate crisis and biodiversity degradation.The latest funding would complement the existing aids targeting food security in the region.
Food security situation in Asia Pacific
Asian Development Bank
Your email address will not be published. Required fields are marked *
© Powered By Current Hunt, Designed & Developed By Quizsolver.com
This function has been disabled for Current Hunt.