Barua proposes food security fund for LDCs

FE Report Industries minister Dilip Barua has proposed to set up a food security fund to ensure food security for the Least Developed Countries (LDCs). "There is a decline in export earning and capital flow as most of the LDCs are dependent on food import and so facing threats of food insecurity, price hike and energy crises," he said stressing on bilateral and multilateral assistance among the LDCs. The minister as the outgoing chairperson made the proposal at the LDCs Ministerial Conference on Industry in Vienna on Thursday, a statement issued by the Ministry of Industries said. Mr Barua also handed over the charge as chairperson of the LDCs Forum to Nepal while director general of UNIDO Dr. Kandeh K. Yumkella, among other ministers from the LDCs, were present in the conference. There are much scope for human resource development, industrialisation, development of technology and raising inter-trade through bilateral and multilateral assistance despite many limitations of LDCs, he said. "The LDCs Forum formed by 49 countires, is a potential economic forum of the world," Mr Barua said adding socio-economic development could be strengthened by capitalising the potentiality. He stressed the need for increasing assistance to ensure social safety net of the LDCs. "Bangladesh is very responsive in implementing the Istanbul workplan in a bid to socio-economic development of the LDCs," he said adding Bangladesh has given priority to a number of the issues in its national development agenda. Bangladesh has improved much in infrastructure development, fuel and food security, development of private sector, modernization of agriculture, raising trade, education and training, public health, generating young entrepreneurs, housing, removal of gender discrimination, women empowerment, social safety, climate change and environment protection, poverty reduction, disaster management and good governance, the minister pointed out. "Bangladesh has become a model country in removing youth unemployment among the LDCs," Mr Barua said adding the government has taken move to create employment in the poverty stricken areas of the country creating temporary job opportunity. The government's initiative for social safety in reducing hunger and malnutrition has become successful, he said.