2/4/22, 2:42 PM IFAD to increase investment in Bangladesh, finance minister hopes

IFAD to increase investment in Bangladesh,

finance minister hopes
Wednesday, 2 February 2022

Finance Minister AHM Mustafa Kamal has expressed his

hope that the International Fund for Agricultural
Development (IFAD) would increase investment in
Bangladesh to implement the 8th Five Year Plan, SDGs
amid the Covid-19 challenges.

The minister also urged the IFAD to provide soft-term loans

to Bangladesh in various sectors alongside facilitating loans
from the GEF, GCF and other development partner funds.

Kamal made the call at a virtual meeting with the IFAD

delegation on Wednesday, reports BSS.

The finance minister led the Bangladesh delegation while the newly-appointed Country Director of
IFAD Arnoud Hameleers led the IFAD delegation.

Economic Relations Division (ERD) Secretary Fatima Yasmin and other high officials virtually joined
the meeting.

The release said that Kamal thanked the IFAD for extending their support in Bangladesh's agriculture,
rural economy, climate change and women's empowerment.

The finance minister highlighted that Bangladesh has attained unprecedented economic growth over the
last era under the dynamic and farsighted leadership of Prime Minister Sheikh Hasina.

He said although Bangladesh was affected by the Covid-19 pandemic like other countries of the world,
the economy of the country was still in a good position due to the prudent leadership of the premier.

Kamal also wished the success of the ensuing 45th governing council of IFAD.

In response, the new IFAD Country Director Arnoud Hameleers sought the support of the government
of Bangladesh for building a hunger-free world by 2030.

He also assured that the support of IFAD would continue for ensuring sustainable development, food
security, facing the challenges of climate change, boosting farm productivity and generating more
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2/4/22, 2:42 PM IFAD to increase investment in Bangladesh, finance minister hopes

employment in the rural areas.

ERD Secretary Fatima Yasmin informed that the cumulative investment of IFAD to Bangladesh stood at
$2.3 billion after the country got its membership in 1979. IFAD has so far extended loan and grant
support to some 34 projects in Bangladesh benefitting some 11.7 million families. Out of those 34
projects, some 27 projects have already been completed while 7 are under implementation.

She mentioned that the Country Strategic Opportunities Programme (COSOP) of IFAD would end in
December this year while IFAD would further extend its support in the next COSOP (2023-2028) for
Bangladesh especially in the areas of gender, nutrition and climate challenge.

Editor : Shah Husain Imam

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