ADB Expands Agricultural Support to $40bn by 2030

The Asian Development Bank (ADB) has announced plans to increase funding for its food security programme in the Asia-Pacific region to $40 bn by 2030, according to a statement from the bank.

The programme, running from 2022 to 2030, will enter its second phase. Governments across the region will receive $18 bn, while the bank will invest an additional $7.5 bn into the private sector. The initiative will cover all stages of the food production chain — from cultivation and processing to distribution and consumption.

The programme aims to create new jobs, reduce environmental impacts, and develop sustainable supply chains. ADB President Masato Kanda highlighted that natural disasters and resource degradation continue to heighten the threat of hunger.

He added that the programme would generate fresh opportunities for farmers and agribusinesses. Expanding digital technologies and data analytics will also be a key focus.

Additionally, ADB plans to establish a Natural Capital Fund. This will support sustainable farming practices and promote innovation among farmers.