IFAD prioritises BD investment

Reehana Rifat Raza, the Regional Director of the Asia and Pacific Division at the International Fund for Agricultural Development (IFAD) has said IFAD prioritises investment in Bangladesh, reports UNB.

She mentioned areas of cooperation such as climate change, youth, gender, food security and nutrition in its current and future development goals, according to an IFAD media release.

While concluding her Bangladesh mission on Friday, Raza also commended the robust implementing capacity of national partners, a key to the success.

She was on a mission to Bangladesh this week - her first official visit to the region since she took up appointment on May 9, 2022.

The purpose of the visit was to meet with government counterparts, key development partners, the IFAD team in Bangladesh and to visit ongoing projects in the field.

In Dhaka, the IFAD delegation met with Amal Krishna Mandal, the Additional Secretary and Wing Chief, Economic Relations Division of the Ministry of Finance.

Raza took the opportunity to personally praise the government of Bangladesh for pledging US$2 million to IFAD's 2022-2024 replenishment cycle.

This is the highest amount that Bangladesh has pledged during its 42-year membership to the fund.

She visited activities implemented under IFAD's Bangladesh portfolio, which is composed of eight ongoing projects with a total investment of US$1.25 billion, that includes $475 million of IFAD financing, making Bangladesh IFAD's second-largest country programme overall.

"Bangladesh has been doing tremendous work in rural development, empowering women and youth, transforming food systems and building climate resilience - all key interventions to achieving the sustainable development goals," said Arnoud Hameleers, IFAD Country Director, Bangladesh.

Bangladesh being the first country visited by the new Asia and the Pacific Regional Director clearly shows the importance of the long-standing and successful partnership between the government of Bangladesh and IFAD, said Hameleers.

Raza was joined by IFAD's Director for the Operational Policy and Results Division, Nigel Brett and the Lead Portfolio Advisor of the Asia and the Pacific Region, Liam Francis Chicca.