Asian Development Bank (ADB)-nagara encourage countries in the Asia Pacific region to increase investment in agricultural sector. Quoted by the Xinhua, the step taken to prevent the aging population who suffer from hunger caused by rising food prices in the future. In Food Security and Investment forum in Manila, the Philippines, which was held together with the World Food Organization (FAO) yesterday, the ADB also said that developing countries need to increase agricultural production in 2050 due to the increasing population. But it must be supported with funding by financial institutions together.
“The need of investment to boost agricultural production to reach USD200 billion to 40 years into the future, and $ 120 billion of them to countries in the Asia Pacific region,” said Director General of the World Food Organization (FAO) Jacques Diouf, Thursday (07/08/2010).
He added that the increase in world food production must be coupled with more and better crop management with a more modern way supported the strength of post harvest infrastructure and capacity-building. But also important is the availability of research funding for agriculture.
“Achieving food security at regional, national and household level has long been a struggle in this region, even as our economy improves,” said ADB President Haruhiko Kuroda.
He added that the sustainable and balanced economic rebound in Asia a lesson that the food crisis in 2008, has provided opportunities to utilize the collective resources to achieve food security.
According to the ADB, the Asia Pacific region is home to the largest number of poor people and is one of the areas most vulnerable to the impacts of climate change and economic shocks.
“This region is the largest supplier and consumer of food and is home to a vibrant agricultural industry to provide a variety of affordable food product upgrades,” said Kuroda.
Regional forum of Asia Investment and Food Security is the first held with the aim of identifying constraints in achieving food security.
The meeting was also to explore various opportunities in order to show that the Asia and Pacific region is an attractive region for private sector to increase investment in adding business initiatives.
Meanwhile, the ADB economist said Ganeshan Wignaraja, Asia requires integrated trading system to help get out of the slowing global economic growth due to debt concerns of Western countries.
“It would be better if Asia does not depend on imports and can eliminate trade barriers for growing domestic market,” he said as quoted by Economic Times Wignajara