The $500 million Agriculture and Rural Transformation Program for Nutrition, Entrepreneurship and Resilience (PARTNER) project will promote diversification, food safety, entrepreneurship and resiliency climate resilience in agro-food systems. The $500 million First Green Development and Climate Resilience Credit will help the country transition to green and climate-resilient development, while the Sustainable and Resilient Microbusiness Transformation project (SMART) of $250 million will transform the microenterprise sector into a more dynamic, less impactful sector. polluting growth, resource saving and climate change adaptation.
The World Bank has approved a $1.25 billion grant for three projects in Bangladesh to achieve green and sustainable development. The bank’s Board of Directors also discussed a new Country Partnership Framework for Bangladesh that addresses key barriers to sustainable growth, including improving private sector development and building resilience. climate resilience.
With these three projects approved, the total on-going program of the International Development Association (IDA) in Bangladesh is $16.3 billion, while the current MIGA program in Bangladesh is just over $1 billion. The World Bank said in a press release that the International Finance Corporation (IFC) is also launching a program worth about $1 billion in Bangladesh.
The CPF is part of the government’s 8th Five-Year Plan and Long-Term Outlook 2021–2041 and will help address key barriers to higher and more sustainable growth in the country.
CPF proposes a strong program of technical and financial assistance focusing on 8 goals, including improving the business environment for large-scale private sector development, strengthening financial intermediation for growth and long-term resilience, while improving the quality and equitable access to human resources of development services. Other goals include increasing economic opportunity for women and vulnerable groups and improving delta management efficiency to accelerate building climate resilience and sustainability.
“This Country Partnership Framework builds on five decades of strong cooperation between the World Bank Group and Bangladesh,” said. Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan. “As Bangladesh aims to become more prosperous, it will need stronger institutions and policies to serve the needs of a high middle income country. This CPF will support government reform programs that deliver jobs and support inclusion and resilience.”
Fiber2Fashion (DP) News Desk
