Director General of the Asia Development Bank States That Nearly a Billion People in Asia Affected By the Food Crisis

The Director General of the Asia Development Bank, Rajat Nag, has stated that nearly a billion people in Asia ,including about 600 million people who survive on just under a dollar a day , on the poverty line, and another 400 million who are just above the poverty line are affected by this catastrophe.

Rising food prices will be the main focus of discussion while the Asia Development Bank (ADB) meets in the Spanish capital for a four-day annual meeting. They will discuss ways and means to help those in want.

The ADB will also direct its attention to increased investments in long term agricultural infrastructure such as irrigation systems, farm to market roads, gearing support for rural finances etc.

The ADB predicts inflation in Asia will reach 5.1% in 2008. The high energy and fertilizer costs have caused the food price rise alarmingly.

Based in Manila the ADB is owned by its 67 member states, 48 from the Asia-Pacific region, and 19 from elsewhere around the world. Last year it had approved of aid amounting to 243 million, as loans, in projects, and for technical assistance.

Source: Government of Sri Lanka

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