ZCZC
BSS-46
KAMAL-IFAD
Kamal for more funding from IFAD to implement 8th FYP, SDGs
DHAKA, Feb 16, 2021 (BSS) – Finance Minister AHM Mustafa Kamal today expressed his high optimism that the International Fund for Agricultural Development (IFAD) would increase its support to Bangladesh in the coming years to successfully implement the 8th Five Year Plan, the SDGs and to face the challenges owing to COVID-19 pandemic.
Kamal expressed such hope in a virtual meeting with IFAD President Gilbert F Houngbo today. The Finance Minister led the eight-member Bangladesh delegation at the meeting comprised of Senior Secretary of the Ministry of Agriculture M Mesbahul Islam and Economic Relations Division (ERD) Secretary Fatima Yasmin.
The 44th governing council meeting of the IFAD will be held on February 17-18 virtually due to the pandemic situation, said a Finance Ministry press release.
Highlighting various achievements of Bangladesh in different fields over the last 12 years, the Finance Minister sought more IFAD funding including grant and soft term loans in the country’s rural economy and agriculture, rural infrastructure development, climate change as well as funding from the GEF and GCF.
He also suggested the IFAD President to increase the manpower at its country office in Dhaka and thus boosting its support to Bangladesh.
After getting its membership in 1979, the cumulative investment of IFAD to Bangladesh totaled $2.3 billion. IFAD has so far provided loans and grants to 34 projects in Bangladesh benefitting around 11.7 million families.
The IFAD President urged the Finance Minister to increase the fee of Bangladesh in 12th replenishment. In response, Kamal assured the IFAD President of increasing Bangladesh’s subscription fee by 40 percent while the announcement to this end will be made at the replenishment pledging meeting.
The release said Kamal also invited the IFAD President to join the golden jubilee celebration of Bangladesh’s independence this year. He also expressed Bangladesh’s support to reelect Gilbert for a fresh four-year term.
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