WB approves $120m to help Bangladesh improve food security

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WB approves $120m to help Bangladesh improve food security

Published : Friday, 12 March, 2021 at 12:17 PM, Count : 290

WB approves $120m to help Bangladesh improve food security

The World Bank has approved $120 million on Tuesday to help Bangladesh improve food security by enhancing climate resilience and productivity of irrigated agriculture and fisheries.

The Climate-Smart Agriculture and Water Management Project will rehabilitate and modernize public Flood Control, Drainage, and Irrigation (FCDI) infrastructures.

This will help improve irrigation and drainage service over 115,000 hectares where flood damage to crops will be reduced by 60 percent. The project will help increase the incomes of 170,000 poor people who are vulnerable to climate change. Half of the beneficiaries will be women, said a World Bank press release on Wednesday.

“In Bangladesh, more than 70 percent of the population is dependent on agriculture for their livelihood but their exposure to climate change and natural disasters make them vulnerable,” said Mercy Tembon, World Bank Country Director for Bangladesh and Bhutan.

“Climate-resilient water management provided in this project combined with increased agricultural productivity will ensure income growth, protect livelihoods and build resilience of the local communities to climate change. “she added.

The project has identified 19 FCI schemes in poor and climate change vulnerable areas for rehabilitation. It will also provide training to farmers on climate-smart technologies, experimentation with new crops, and post-harvest management.

The project will also support the promotion of coastal aquaculture, including the integration of rice and fish/shrimp farming; setting up of cold storage facilities; and, improvements of local markets. This will improve the productivity of fisheries by almost 40 percent and rice by 7.5 percent.

Flood control and drainage systems play a critical role to ensure agricultural productivity and growth,” said Abel Lufafa, World Bank Senior Agriculture Specialist and task team leader for the project.

“Repairing and upgrading of the selected schemes will improve their capacity to regulate the excess water during the monsoon and water deficits in the post-monsoon period.” added the World Bank official.

The credit is from the World Bank’s International Development Association (IDA), and has a 35-year term, including a five-year grace period.

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