ADB to spend huge sums to mitigate food crisis


September 27, Fineko/ The Asian Development Bank plans an all-round support program to mitigate the escalating food crisis in the Asia-Pacific basin and improve long-term food safety by strengthening food systems against the effects of climate change and loss of biodiversity.

ABC.AZ reports that within the program the bank plans to allocate at least $14 bn during 2022-2025.

The aid package further expands ADB's support for food safety in the region, where about 1.1 billion people are deprived of healthy food due to rising food prices and poverty, which reached a record level this year. Funding will be distributed through existing and new projects in sectors including agricultural funds, food production and distribution, social security, irrigation and water resources management.