THE URGENCY OF ACTION

 

Three years ago, global shocks from the COVID-19 pandemic and geopolitical tensions revealed how vulnerable our food systems truly are. Rising food prices pushed millions deeper into poverty and hunger, underscoring the unreliable state of food security for the region’s poorest and most vulnerable.

 

Today, the situation remains critical. Unprecedented droughts, devastating floods, extreme heatwaves, and the rapid degradation of natural resources threaten the very foundations of food production and rural livelihoods. Agriculture's heavy use of water, land, and its contribution to biodiversity loss and environmental degradation require urgent and transformative action.

 

Yet, within these challenges lie extraordinary opportunities. The food systems employ 40% of the population in Asia and the Pacific. With targeted interventions, it can become a powerful engine for sustainable growth and poverty reduction.

 

ADB’S NEW AMBITION

 

Recognizing both the urgency and opportunity, in 2022, ADB committed $14 billion through 2025 to enhance food security and resilience. We are firmly on track, having already delivered over $11 billion for food security. In Cambodia, for example, our support for coastal fisheries regeneration has directly benefited the food security and livelihoods of 200,000 people since 2022. And in Pakistan, our financing enabled the country’s first policy-based loan for climate and disaster resilience.

 

Yet, we know we must do more. Therefore, ADB has announced a bold new ambition to increase our commitment to food systems transformation across Asia and the Pacific. We will be investing an additional $26 billion by 2030, bringing our total investment in food security to $40 billion. Of this, $18.5 billion will directly support governments, and $7.5 billion will directly assist the private sector.

 

STRATEGIC PRIORITIES AND COLLABORATIVE ACTION

 

Our expanded initiative addresses key challenges in sustainably transforming food systems by prioritizing ecosystem protection and nutrition improvement. We will also scale up financing for agribusinesses and stimulate rural economic revival with a clear focus on creating quality jobs and promoting gender equity. Technological innovation will be encouraged, alongside necessary policy and institutional reforms. Specifically, ADB will champion innovative, nature-positive practices adapted to local contexts, and promote open trade for efficient access to nutritious foods.

 

To maximize our impact, we will mobilize funding from a diverse range of public and private sources. We will align our actions with global food systems transformation efforts and ensure transparency and accountability through internationally harmonized monitoring systems.

 

Transforming food systems is a shared responsibility. It requires deep collaboration among governments, businesses, researchers, farmers, and civil society. Together, we must ensure that our food systems not only feed people today but also protect nature and create lasting opportunities for generations to come. I look forward to working closely with our partners. Your insights and collaboration will be instrumental as we advance this ambitious agenda.

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Edited from comments given during the 58th Annual Meeting, 7 May 2025, Milan, Italy.