The government, with the support of the World Bank (WB) and the IFAD, is going to take up a US$ 1.34-billion programme for upgrading food nutrient values in agricultural products and rural transformation, officials said on Monday.
The WB and the IFAD are expected to provide $543 million for facilitating the proposed agricultural upgradation programme, they added.
"Bangladesh is self-sufficient in food production, and now it is looking for improving the agricultural items' nutrient values. The WB and the IFAD have come forward to support the government," said a senior official of the Ministry of Finance (MoF).
The Ministry of Agriculture (MoA) will implement the "Programme on agricultural and rural transformation for nutrition, entrepreneurship and resilience (PARTNER)" between 2023 and 2028.
The WB will provide $500 million funds to the programme, and the IFAD will provide $43 million. The remaining $800 million will be provided by the Bangladesh government from its internal resources, the MoF official added.
An Economic Relations Division (ERD) official said: "We have already discussed with the WB and the IFAD for getting the financial support. Both the development partners have assured us of financing the programme."
A MoA official told the FE that many of their agencies would work under the PARTNER programme to upgrade the country's agricultural production with high nutrients as well as to transform the rural economy with enterprise development and social services.
The agencies include the Department of Agricultural Extension (DAE), Bangladesh Agricultural Research Council (BARC), Bangladesh Agricultural Development Corporation (BADC), Department of Agricultural Marketing (DAM), Bangladesh Agricultural Research Institute (BARI), Bangladesh Rice Research Institute (BRRI), and Barind Multipurpose Development Authority (BMDA).
The MoA official said the programme will support a transformational shift of agriculture for diversification towards high-value crops for ensuring food and nutrition security as well as building long-term sector resilience to climate change.
The DAE and other agencies will work to increase productivity and sustainability of all key crops, like cereals, pulses, fruits, vegetables and spices, promoting agricultural diversification for ensuring food security and nutrition.
The agencies will also work to develop entrepreneurship and access to service along with value-chain for making provision of services and subsidies to farmers more efficient, strengthening national testing laboratories, and promotion of access to marketing.
The programme will also help to modernise institutions for agricultural transformation, he added.
Another ERD official said: "The WB's pre-appraisal for the proposed $500 million loan has already been completed. We may complete the loan negotiations soon."
"We are optimistic of completing the loan agreement within this fiscal year (FY), 2022-23," he added.
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