Bangladesh's stake in the International Fund for Agricultural Development (IFAD) has increased with a payment of US$2.0 million to the United Nations' specialised agency's 12th replenishment fund, officials said on Wednesday.
In the 11th replenishment fund, Bangladesh paid $1.5 million, Economic Relations Division officials said.
At a courtesy call on Finance Minister AHM Mustafa Kamal on Wednesday, the newly-appointed IFAD Country Director for Bangladesh Arnoud Hameleers invited the minister to attend the upcoming 45th Governing Council of the IFAD scheduled to be held on February 16 next.
An ERD official said the IFAD has prepared its 12th aid package to be disbursed among the member countries until 2024 for development and reducing hunger.
Hailing the IFAD's ongoing support to Bangladesh, Mr Kamal expected that the development partner will extend its support to facilitate the Covid-19 recovery process, implementation of the 8th five-year plan and achievement of the SDGs.
In response, Mr Arnoud said that the agency will continue to support the efforts in rural development, agricultural extension and mechanisation, and creating rural employment.
Since 1979, IFAD has provided $2.3 billion worth of funds against 34 different projects and programmes in Bangladesh.
Out of the projects, 27 have already been completed and the rest seven were under implementation across the country.
IFAD is investing in Bangladesh under its Country Strategic Opportunities Programme (COSOP), which is scheduled to end in December this year.
For the next COSOP, to be implemented between 2023 and 2028, the finance minister expected extended support for gender, nutrition, climate change and upgrading the lifestyle of the ethnic people.
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