IFAD invests $129m in two projects - Share market analysis of dhaka stock exchange, Bangladesh

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03 April, 2017 10:32 AM Source: New Age

International Fund for Agricultural Development (IFAD) will invest $129 million in two projects to support small farmers and develop a community-based flood information system in the country.
Agriculture ministry and Local Government and Engineering Department will implement the projects under the current Country Strategy Opportunity Paper (COSOP 2012-2018), said a news release.
IFAD has already started project designing with the concerned ministries and departments of the government.
The Aide Memoire of both the projects has been endorsed at separate meetings at the Economic Relations Division last week.
The Climate Resilient Community Development Project will cover 25 flood-prone Upazilas under six districts—Kurigram, Gaibandha, Jamalpur, Rangpur, Nilphamari and Lalmonirhat— in northern region where climate resilient rural roads and community shelters will be constructed and off-farm employment opportunities will be created for local people.
It will directly benefit more than three lakh households including 35,780 agricultural households.
On the other hand, agriculture ministry will implement Smallholder Agricultural Competitiveness Project to support smallholder farmers increasing their incomes and livelihood resilience through demand-driven productivity growth, crop diversification and marketing in a changing climate condition.
It will cover 30 Upzilas under 12 southern districts in the country.
The total cost of the two projects is estimated about $206.13 million. Of which, IFAD will provide $129 million, the government will fund $57.64 million and the rest of the amount will be provided by beneficiaries and private sector. 

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