ADB Allocates $4.1 Million to Support COVID-19 Rural Recovery.
ENPNewswire-December 29, 2021--ADB Allocates $4.1 Million to Support COVID-19 Rural Recovery
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Release date- 27122021 - The Asian Development Bank (ADB) has allocated $4.1 million in technical assistance to help agri-food value chains and rural economies in Asia and the Pacific recover from the impacts of the coronavirus disease (COVID-19) pandemic.
The Green and Resilient Rural Recovery through Agri-Food System Transformation in the Asia and Pacific Region program will assess the impacts of COVID-19 on the region's food and nutrition security and rural livelihood. It will also help developing member countries (DMCs) transform investments toward a green, resilient, and inclusive recovery from COVID-19, which has exacerbated rural poverty and food and nutrition insecurity, particularly among women and the vulnerable.
'Our food systems, nature, and climate are inextricably linked,' said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono. 'As ADB looks to achieve its climate ambition and scale up nature capital investment, food system transformation has become a pressing priority.'
The technical assistance will help develop the concept of a three-pillared Innovative Natural Capital Financing Facility (INCFF) consisting of a regional Natural Capital Lab, a Natural Capital Fund, and a Digital Marketplace Platform. The INCFF will catalyze climate-positive adaptation and mitigation investments and reduce the erosion of biodiversity while protecting rural livelihoods.
The program will help DMCs support risk and vulnerability assessments to understand the impact of the...
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