The Asian Development Bank (ADB) has announced a $30 billion funding initiative aimed at enhancing food security among its member countries — a move from which Bangladesh is expected to benefit significantly.
The announcement came on Sunday during the 59th ADB Annual Meeting held in Milan.
As part of the initiative, ADB revealed plans to increase its commitment to long-term food and nutrition security in the Asia-Pacific region by an additional $26 billion. With this enhancement, total funding for food security programs from 2022 to 2030 will rise to $40 billion.
This expanded support will finance a wide range of activities throughout the entire food production value chain — from agriculture and food processing to distribution and consumption. Bangladesh, as a member country, will be eligible to access this funding for projects aimed at strengthening food security.
ADB President Masato Kanda said extreme weather events such as droughts, floods, and heatwaves — along with the degradation of natural resources — continue to pose serious threats to agriculture, food security, and rural livelihoods.
“This extended assistance will help countries eliminate hunger, improve dietary habits, and protect the natural environment, while also creating opportunities for farmers and agribusinesses,” he added.
He stated that the support package is designed to transform the entire agri-food system, making it more resilient and sustainable by intervening at every stage — from production and processing to distribution and consumption.
Bangladesh, which already collaborates with ADB on several development fronts, is expected to utilize this new support to implement food security initiatives that address both current vulnerabilities and future needs.
