IFAD President due Monday
Nwanze to discuss with top govt leaders investment, new partnership
Dhaka, July 15 (UNB) – President of the International Fund for Agricultural Development (IFAD) Kanayo F Nwanze will arrive in Dhaka on Monday on a three-day official visit of Bangladesh.
During the visit, Nwanze will hold talks with Prime Minister Sheikh Hasina, Finance Minister AMA Muhith and Agriculture Minister Begum Matia Chowdhury on IFAD’s investments in Bangladesh and new partnership in the future, said press release on Sunday.
He will travel to Sunamganj to see for himself progress on the IFAD-supported Sunamganj Community-based Resource Management Project and learn first-hand how the project has helped participants improve their lives.
The IFAD chief will sign with the government a financing agreement of a US$ 55 million IFAD loan, a US$ 1 million IFAD grant and a US$ 30 million Spanish Trust Fund loan for the Haor Infrastructure and Livelihood Enhancement Project.
This project will help reduce poverty in five districts of the Haor basin -- Netrakona, Habiganj, Brahmanbaria, Kishoreganj and Sunamganj.
The project aims to improve roads, build local capacity and expand access to natural resources, technology and markets.
Improved infrastructure will reduce transportation time and costs while increasing the volume of marketed goods, the release said, adding that over 1.15 lakh households composed of smallholder farmers with less than 2.5 acres of land will benefit directly from the project, as well as fishers, poor women and small traders and intermediaries in local markets.
IFAD has been working in Bangladesh for more than 30 years and has invested over US$578 million in low-interest loans and grants for a total of 28 projects and programmes, which have enabled about 9 million of households to break out of poverty.
With the approval of the new Country Strategic Opportunities Programme (COSOP) for 2012-2018 by the IFAD Executive Board, its investment in Bangladesh will target rural poor people living in areas vulnerable to climate change.
Small producers and entrepreneurs will benefit from improved value chains and greater market access, and economically and socially marginalised groups, including poor rural women, will be empowered.
The release said in Bangladesh, agriculture is an important sector of the country’s economy. It contributes 19 percent of GDP and employs 44 percent of the labour force. About 60 million people depend on it to feed themselves and their families.
However, the country remains a low-income country with substantial poverty and inequality, added the release.
During the visit, Nwanze will hold talks with Prime Minister Sheikh Hasina, Finance Minister AMA Muhith and Agriculture Minister Begum Matia Chowdhury on IFAD’s investments in Bangladesh and new partnership in the future, said press release on Sunday.
He will travel to Sunamganj to see for himself progress on the IFAD-supported Sunamganj Community-based Resource Management Project and learn first-hand how the project has helped participants improve their lives.
The IFAD chief will sign with the government a financing agreement of a US$ 55 million IFAD loan, a US$ 1 million IFAD grant and a US$ 30 million Spanish Trust Fund loan for the Haor Infrastructure and Livelihood Enhancement Project.
This project will help reduce poverty in five districts of the Haor basin -- Netrakona, Habiganj, Brahmanbaria, Kishoreganj and Sunamganj.
The project aims to improve roads, build local capacity and expand access to natural resources, technology and markets.
Improved infrastructure will reduce transportation time and costs while increasing the volume of marketed goods, the release said, adding that over 1.15 lakh households composed of smallholder farmers with less than 2.5 acres of land will benefit directly from the project, as well as fishers, poor women and small traders and intermediaries in local markets.
IFAD has been working in Bangladesh for more than 30 years and has invested over US$578 million in low-interest loans and grants for a total of 28 projects and programmes, which have enabled about 9 million of households to break out of poverty.
With the approval of the new Country Strategic Opportunities Programme (COSOP) for 2012-2018 by the IFAD Executive Board, its investment in Bangladesh will target rural poor people living in areas vulnerable to climate change.
Small producers and entrepreneurs will benefit from improved value chains and greater market access, and economically and socially marginalised groups, including poor rural women, will be empowered.
The release said in Bangladesh, agriculture is an important sector of the country’s economy. It contributes 19 percent of GDP and employs 44 percent of the labour force. About 60 million people depend on it to feed themselves and their families.
However, the country remains a low-income country with substantial poverty and inequality, added the release.
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