Agriculture and Food Security
ADB scales up nature-based solutions and support for climate-smart agriculture across the entire agriculture and food value chains, including the blue economy.
Food insecurity is threatening to reverse decades of development progress in Asia and the Pacific. In September 2022, ADB announced plans to provide at least $14 billion over 2022-2025 in a comprehensive program of support to ease a worsening food crisis in the region, and improve long-term food security by strengthening food systems against the impacts of climate change and biodiversity loss.
The assistance expands ADB’s already significant support for food security in the region, where nearly 1.1 billion people lack healthy diets due to poverty and food prices which have soared to record highs in 2022.
Regional food prices have risen steeply, mainly due to the COVID-19 pandemic and the Russian invasion of Ukraine.
Food prices remain high, but have recently fallen from their peaks on sluggish demand and improved crop expectations
In 2022, ADB expects to finalize commitments totaling about $3.3 billion.
Public Sector (Sovereign) Operations
Repurpose and utilize existing projects
Strengthen countercyclical support facility for food security
Launch new projects in agriculture, natural resources, and rural development
Private Sector (Nonsovereign) Operations
Trade and supply chain finance
Direct agribusiness lending
Lending to financial institutions
Continued long-term support (2023-2025) for new projects in agriculture, natural resources, and rural development
Step up support for climate-smart agriculture
Digitize agriculture sector with custom interventions for developing member countries
Introduce innovative financing mechanisms to promote nature-based solutions, leading to better agri-food systems and balanced diets