|
 The 41st annual meeting of the this week was overshadowed by concerns over escalating food prices. Participants voiced concerns that the AsDB’s ‘Strategy 2020’ – the long-term strategic framework (LTSF) for the 2008-2020 period – is inadequate to tackle the food crisis, which it is feared could undo much of the progress made in the region in the past decades.
“The rising food prices are a threat to food security and a threat to poverty reduction, and we stress that food security must be adopted as a challenge of the LTSF,” said D. Subba Rao of the Indian finance ministry. Agriculture is not included in the five core areas of the LTSF, a fact which has been strongly criticised by development NGOs. Isangani Serrano, Vice President of the Philippine Rural Reconstruction Movement, commented: “Poverty from the birth of the ADB till now is a rural phenomenon. How the hell are they going to achieve a poverty-free Asia without dedicating a huge part of their portfolio to agriculture?” In 2007, the total loans and grants for development in agriculture and natural resources amounted to 510 million dollars, compared to 930 million dollars in 2006. In contrast, the transport and communications sectors were allocated 4.2 billion dollars in 2007 and 1.5 billion dollars the previous year. Nobel Peace laureate Rajendra Pachauri commented: "There is reason to be deeply concerned about what is happening in the agriculture sector in Asia.” “I don’t think Asia will be able to mount the impending crisis unless we bring about change in agriculture," he added. Sources: |
