MADRID: Asian Development Bank (ADB) will provide $2 billion soft-terms loans to the countries in the region for meeting food shortage.
In the opening session of the ADB meeting in Spain, it was announced that the Asian countries could spend these amounts on food items’ subsidies, which aims at lessening the burden of price-hikes on the poor.
Addressing the meeting Japanese Foreign Minister, Fukushiro cautioned that the recent hikes in the prices of rice were affecting the poor population of the Asian countries most and this could trigger social unrest. Indian Finance Secretary, Subhao Rao said that the 20 percent price-hikes in kitchen items would plunge 100 million people to the extreme poverty.
ADB to provide $2b loans for meeting food shortage
MADRID: Asian Development Bank (ADB) will provide $2 billion soft-terms loans to the countries in the region for meeting food shortage.
In the opening session of the ADB meeting in Spain, it was announced that the Asian countries could spend these amounts on food items’ subsidies, which aims at lessening the burden of price-hikes on the poor.
Addressing the meeting Japanese Foreign Minister, Fukushiro cautioned that the recent hikes in the prices of rice were affecting the poor population of the Asian countries most and this could trigger social unrest. Indian Finance Secretary, Subhao Rao said that the 20 percent price-hikes in kitchen items would plunge 100 million people to the extreme poverty.
