ADB boosts food security funding to $40b by 2030

The Asian Development Bank (ADB) announced on Sunday, May 4, a $26 billion expansion of its food and nutrition security programme, raising total funding to $40 billion for 2022–2030 to combat hunger and transform food systems across Asia and the Pacific.

Unveiled at ADB’s 58th Annual Meeting, the initiative will support the entire food value chain—farming, processing, distribution, and consumption—through government financing and private sector partnerships. 

It aims to enhance nutritious food production, create jobs, and build climate-resilient supply chains while reducing environmental harm.

“Extreme weather and degraded resources threaten agriculture and livelihoods,” said ADB President Masato Kanda. “This programme will tackle hunger, improve diets, and protect ecosystems, driving innovation from farm to table.”

Building on a 2022 pledge of $14 billion by 2025, ADB has committed $11 billion so far, with $3.3 billion planned for 2025. The new $26 billion includes $18.5 billion in direct ADB support and $7.5 billion in private sector investments, targeting over 27 per cent private funding by 2030.

With over half the world’s undernourished in Asia, and food systems driving 70 per cent of global water use and 80 per cent of biodiversity loss, the programme prioritises modernizing agriculture, improving soil health, and conserving biodiversity. 

Digital tools will empower farmers and policymakers, while the $150 million Natural Capital Fund, backed by the Global Environment Facility, will support sustainable agri-food projects.

ADB, founded in 1966 and owned by 69 members, continues to champion resilient growth and innovative solutions for the region’s challenges.