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 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.
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 programme will help DMCs support risk and vulnerability assessments to understand the impact of the pandemic on key agribusiness value chains and the development of appropriate policy and investment responses.
Funds will be deployed to test climate-smart agriculture interventions and build new approaches to developing sustainable and inclusive agribusiness value chains.
ADB expects to implement the technical assistance with partners from academia, multilateral, and bilateral agencies, as well as DMCs.