ADB to devote $14B to help ease food crisis in Asia-Pacific
Associated PressMANILA, Philippines — The Asian Development Bank said Tuesday it will devote at least $14 billion through 2025 to help ease a worsening food crisis in the Asia-Pacific. The development lender said it plans a comprehensive program of support to help the 1.1 billion people in the region who lack healthy diets due to poverty and soaring food prices. “This is a timely and urgently needed response to a crisis that is leaving too many poor families in Asia hungry and in deeper poverty,” ADB President Masatsugu Asakawa said. Last week, the U.N. food chief warned the world is facing “a perfect storm on top of a perfect storm,” urging donors, particularly Gulf nations and billionaires, to give a few days of profits to tackle a fertilizer supply crisis to prevent widespread food shortages next year.