DHAKA, Dec 18, 2018 (BSS) – The World Bank will provide $500 million
assistance to improve livestock and dairy production in Bangladesh in a bid
to meet the country’s growing demand for egg, meat and milk and thereby
improve the nutritional intake of its citizens.
“In this regard, a loan agreement will be signed tomorrow between the
government and the World Bank at the NEC-2 Conference Room in the city’s
Sher-e-Bangla Nagar area,” said an Economic Relations Division (ERD) official
today.
The official told BSS that ERD Secretary Monowar Ahmed and World Bank
Acting Country Director for Bangladesh Dandan Chen will sign the agreement on
behalf of their respective sides.
The credit from the World Bank’s International Development Association,
which provides grants or zero-interest loans, has a 30-year term, including a
five-year grace period.
Through implementation of this project, growth will be stimulated as well
as livestock production systems will be improved and thus livestock farmers
in Bangladesh will have better access to livestock services and practices.
According to the ERD and the World Bank, the Livestock and Dairy
Development Project will improve agricultural productivity and market access
of 2 million smallholder household farmers and small and medium-scale agro-
entrepreneurs.
The lending agency also said livestock sector employs 14 percent of the
total labor force, but more than 70 percent of rural households are engaged
in livestock production. Currently 68 percent of the agricultural labor force
is women and they are mainly involved in livestock and poultry production.
“Climate change impacts on livestock production threaten to hamper the
development of livestock,” said Manievel Sene, World Bank Team Leader for the
Livestock and Dairy Development Project.
The official also said rural households’ livestock assets are highly
exposed to risks, including loss of livestock, associated with natural events
and major disease outbreaks.
“Mitigating risks by creating an enabling environment for livestock
insurance will reduce the vulnerability of smallholder farmers as well as
enhance productivity.” added the official.