The Asian Development Bank (ADB) has warned that the crisis of rising food prices could reverse gains made in reducing poverty across the continent.
Bank president Haruhiko Kuroda warned at its annual meeting in Madrid that "the cheap food era may be over". Donor countries have pledged more than $11bn (£5.5bn) to a fund to ease the hardship of Asia's poorest people.
Meanwhile the African Development Bank has pledged an extra $1bn for its loans portfolio to tackle the food crisis.
UN shortfall
The BBC's Alan Johnston says that food prices are the key issue on the minds of the thousands of government officials and business figures who have gathered in Madrid.
ADB president Mr Kuroda said it was critically important to provide financing for development projects in rural Asian areas. More >>>
