The World Bank is providing emergency assistance of 13 thousand 200 crores to Bangladesh
The World Bank is providing emergency assistance of 1.1 billion US dollars (about 13 thousand 200 crores) to Bangladesh to deal with the increase in the price of fertilizers and fuel in the world market, supply shortage and food security risk. Under two separate schemes, the funding will be spent on strengthening agricultural production, emergency services and crisis social protection.
This information was given in a press release published on Friday (June 26). The World Bank.
Bangladesh and Bhutan Division Director of the World Bank John Pesme He said that due to the ongoing conflict in the Middle East, the increase in the price of food, fertilizer and fuel in the international market and the restriction of revenue expenditure have put pressure on the economy of Bangladesh. Small farmers and poor and vulnerable communities are the worst affected.
He said, to deal with this situation, the World Bank is providing this assistance to ensure the supply of fertilizers for rice production, to protect people's livelihood and employment and to keep emergency services running.
'Emergency Support for Food Security' Bangladesh under the project 300 million dollars will be given This money is for the current year Amon season (July-October) And next year Boro season will be spent on import of required fertilizers.
Total fertilizer used in Bangladesh More than 85 percent is imported from abroad is done Through this project 6 lakh metric tons of fertilizer The World Bank will finance imports, about half of which will be urea fertilisers.
As a result, the country's approx 14 lakh hectares of land Smallholder farmers are expected to be assured of supply of fertilizer required for paddy cultivation.
World Bank Lead Economist Soleimani Coulibaly Said, the total rice production of Bangladesh is about 90 percent is in Aman and Boro season is Hence disruption in fertilizer supply will not only affect food security but also negatively impact employment and poverty conditions.
Apart from this 'Contingent Emergency Response' Under the project 713 million dollars A quick disbursement emergency fund has been approved.
This money will be used to provide cash assistance to crisis-affected families, micro, small and medium entrepreneurs, restore livelihoods and sustain employment.
At the same time, the money of this project will be used to maintain essential services like food, medicine, medical equipment, electricity, fuel and clean water. According to the World Bank, the project money Discount by 30 June will be done
World Bank's Lead Disaster Risk Management Specialist Leslie Jane You Cordero He said that Bangladesh will get the opportunity to use this money quickly under the special system of crisis preparedness and quick response. Unutilized funds from existing schemes will be restructured and allocated to the most essential sectors, so as to protect people, businesses and employment from the impact of sudden economic shocks.
