BAKU, Azerbaijan, September 27. Asian Development Bank (ADB) has programmed up to $10.7 billion in additional commitments from 2023 through 2025 to address food security issues, ADB President Masatsugu Asakawa said during the press conference timed to the ADB’s 55th Annual Meeting, Trend reports.
“We understand that food security requires food systems that are resilient. Our continued support for agriculture, natural resources, and rural development will contribute to this,” the president said.
According to the president, ADB is adopting three strategies to build stronger, more sustainable, and equitable food systems.
“First, we are scaling up our climate mitigation and climate adaptation investments across the entire food and agriculture value chain. This includes support to strengthen the participation of smallholder farmers and women in building the resilience of agricultural communities,” he said.
Secondly, as Asakawa noted, ADB is going to focus on the promotion of digital transformation in the agriculture sector, which will consequently boost production efficiency, along with value chain efficiency, including fisheries and livestock.
“Third, we are promoting nature-based solutions. This includes our work to develop innovative financial instruments to attract capital that will build environment-friendly food systems, and to promote more balanced diets,” the president added.
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