Asian Development Bank (ADB)
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May 4, 2025
The opening day of ADB’s 58th Annual Meeting in Milan, Italy, focused on shared solutions to urgent challenges facing Asia and the Pacific. A lack of decent and affordable food is one such challenge.
ADB President Masato Kanda announced at a press conference that ADB would provide $26 billion in new funding to tackle food insecurity—expanding on a $14 billion commitment in 2022. This brings ADB’s food security support targets for 2022-2030 to $40 billion, including approximately $11 billion for private sector investments to help transform food systems.
The extra support is vital. More than half the world’s people without enough quality food live in Asia and the Pacific’s developing countries. By transforming food systems—through farmer support, agri-tech innovation, digital tools, natural capital management, and private sector engagement—the region can reduce these hunger pangs while promoting sustainable growth and building climate-resilient economies.
Seed Money: How Asia’s Small Farmers Are Quietly Reshaping Big Food
The Annual Meeting’s theme is “Sharing Experience, Building Tomorrow.” Farmers are helping build a better tomorrow by becoming more efficient and productive. In an ADB blog “Seed Money: How Asia’s Small Farmers Are Quietly Reshaping Big Food”, Martin Lemoine, ADB’s Unit Head of Agribusiness Investments, explains how small-scale farmers in Asia are adopting sustainable and climate-resilient practices.
Working with development organizations and the private sector, these farmers are producing more nutritious and affordable food by improving their productivity, reducing environmental impact, and connecting to larger markets.
ADB and ISDB Sign Memorandum of Understanding to Commit $2 Billion in Development Operations
Some challenges are so large and pressing that they need global collaboration to mobilize funding. ADB and the Islamic Development Bank (ISDB) signed a memorandum of understanding to invest $2 billion ($1 billion each) in common member countries.
This landmark collaboration—formalized by Xinning Jia, ADB’s Director General for Strategy, Policy, and Partnerships, and Ibrahim Ali Shoukry, Director of Partnerships, Global Advocacy and Resource Mobilization Department at IsDB —will support development projects in Afghanistan, Azerbaijan, Bangladesh, Indonesia, Kazakhstan, Kyrgyz Republic, Maldives, Pakistan, Tajikistan, Türkiye, Turkmenistan, and Uzbekistan.
“Our shared vision is to create lasting, meaningful impacts that will improve the lives of millions in our common-member countries,” Xinning Jia, Director General of ADB’s Strategy, Policy, and Partnerships Department.
Accelerating Private Sector Development in Asia and the Pacific
Real progress will require a vibrant private sector. ADB and the Government of Japan launched a new multi-donor facility to strengthen private sector development, mobilize private capital, and enable long-term investment ecosystems.
An agreement establishing the ADB Market Acceleration Platform for Asia and the Pacific Trust Fund (AMAP), was signed by ADB President Kanda and Japanese Minister of Finance Katsunobu Katō, with an initial commitment of $20 million.
At a separate event, President Kanda joined President Nadia Calviño Santamaria of the European Investment Bank, and Governor Carlo Monticelli of the Council of Europe Development Bank to discuss the catalytic role of multilateral development banks in private sector development.
“What matters most is lasting impact. Our goal is to help developing member countries build sustainable, inclusive, market-based economies.” Masato Kanda, ADB President
Asia Must Revolutionize Its Food Systems, But How?
Qingfeng Zhang, ADB’s Senior Director for Agriculture, Food, Nature, and Rural Development, provides answers in his blog “How Asia Can Revolutionize Its Food Systems Before It’s Too Late.” Sustainable agricultural practices, technology adoption, and stronger supply chains can boost resilience and productivity.
Zhang also highlights the need for policy reforms, more private-sector investment, and inclusive strategies to ensure that small farmers benefit. And it needs to happen fast, as delays could have severe economic and environmental consequences.
Sharing Experience, Building Tomorrow: A Conversation with President Kanda
President Masato Kanda discusses his vision, priorities, and strategic direction for ADB amid the fast-changing global landscape with Nisha Pillai. Watch the video here.
The Annual Meeting’s first day showed that food security is pivotal to the region’s development. The food crisis is worsening, and bold action is needed to boost investment, forge innovative partnerships, and drive systemic change.
We must act now to build a tomorrow in which everyone has the food they need to lead a healthy and fulfilling life.
