Bangladesh Receives 85 Crore 80 Lakh Dollars from the World Bank

Bangladesh Receives 85 Crore 80 Lakh Dollars from the World Bank

Bangladesh Receives 85 Crore 80 Lakh Dollars from the World Bank


Bangladesh Receives 85 Crore 80 Lakh Dollars from the World Bank

Bangladesh has received an economic grant of 85 crore 80 lakh dollars from the World Bank. This funding has been provided with the aim of promoting climate-resilient agriculture, food security, and road safety.

On Wednesday (June 7), the Secretary of Bangladesh's Economic Relations Division, Sharifa Khan, and the Director of the World Bank's Bangladesh and Bhutan Chapter, Abdulaye Seck, signed the agreement.

The received funds will primarily be allocated to two areas. Firstly, climate-resilient agriculture development and food security. For this purpose, a program called "Agricultural and Rural Transformation for Nutrition, Entrepreneurship, and Resilience (PARTNER)" has been initiated with a funding of 50 crore dollars.

According to a statement released after the signing of the agreement, it is expected that this project will facilitate the transformation of agricultural lands by enhancing climate resilience, food security, and crop diversification in Bangladesh. It will contribute to the growth of agricultural initiatives, make agricultural inputs more accessible, improve food safety processes, and support the empowerment of women and young entrepreneurs.

The project is also expected to assist in the modernization of information management, research, and development programs, as well as collaboration with global agricultural research institutions and private sector engagement.

The remaining portion of the received funds will be utilized for the road safety project. Under the name "Road Safety Project," a project worth 35 crore 80 lakh dollars has been initiated. It aims to improve road safety in the country and reduce fatalities on selected high-risk highways and district roads.

Regarding this grant, Abdulaye Seck, the Director of the World Bank's Bangladesh and Bhutan Chapter, stated that the World Bank is committed to assisting Bangladesh in overcoming barriers in achieving sustained and inclusive growth, particularly in the context of climate change and increasing challenges.

Within the scope of this project, two national highways, N4 (Gazipur-Elenga) and N6 (Natore to Nawabganj), will undergo improvements such as upgraded designs, signage systems, pedestrian facilities, and urgent road safety measures.

Sharifa Khan, the Secretary of Bangladesh's Economic Relations Division, mentioned that "these two projects will play a crucial role in positioning Bangladesh as a middle-income country by 2031."

She further emphasized the importance of our national agricultural policy for ensuring nutrition, food security, and climate-resilient agriculture, along with giving due importance to road safety through effective road transportation laws and road safety measures.

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