In order to help bridge the financing gap in ensuring food security, the Asian Development Bank (ADB) has quadrupled its support for food systems development over the past ten years.
“One of the most important lessons learned from the coronavirus disease (COVID-19) pandemic is the urgency of generating global awareness and building sustainable and resilient food systems which requires actions at many levels,” said ADB Vice President for Knowledge Management and Sustainable Development Bambang Susantono.
“We definitely need to scale up public and private investments in green business, such as ecological agriculture, circular bioeconomy, eco-tourism, and pollution control,” Susantono said.
Through an Innovative Natural Capital Financing Facility under development, the Manila-headquartered bank will not only drive investments towards natural capital but also strengthen eco-compensation (i.e. payments for ecological services) to incentivize behavioral change of small farmers.