$176m deal signed with WB to support 1m farmers

The government yesterday signed a $176.06 million financing agreement with the World Bank (WB) to increase the agricultural productivity and access to markets of more than 10 lakh poor farmers, particularly women, reports BSS.
Senior Secretary of the Economic Relations Division (ERD) Mohammad Mejbahuddin and WB country director Qimiao Fan signed the agreement on behalf of their respective sides at the ERD in the capital city.
The credit from the WB’s International Development Association (IDA), which provides grants or zero to low interest loans, has a 38-year term, including a six-year grace period, and a service charge of 0.75 per cent.
The funding will support implementation of the Second National Agricultural Technology Programme (NATP II), which is aimed at increasing and diversifying the productivity of crops, livestock and fisheries, and enhancing poor farmers’ access to markets.
The project will help enhance nutrition by ensuring food safety and more diversified food consumption. Through emphasising demand-driven research and modern agricultural technology, it will help increase farm yields and adaptation to climate change, said a WB statement.
The project will cover 57 districts to benefit small-scale farmers through stronger linkages with research, agricultural extension services, farmer groups, and on-farm demonstrations to promote improved agricultural technologies.
The project will focus on training for farmers and agricultural extension field staff to ensure knowledge sharing and technology transfer.
Commenting on the project, the WB country director said that it would help achieve food security, improve resilience to climate change, and enhance nutrition through safer and more diversified food. 

$176m deal signed with WB to support 1m farmers

The government yesterday signed a $176.06 million financing agreement with the World Bank (WB) to increase the agricultural productivity and access to markets of more than 10 lakh poor farmers, particularly women, reports BSS. Senior Secretary of the Economic Relations Division (ERD) Mohammad Mejbahuddin and WB country director Qimiao Fan signed the agreement on behalf of their respective sides at the ERD in the capital city. The credit from the WBs International Development Association (IDA), which provides grants or zero to low interest loans, has a 38-year term, including a six-year grace period, and a service charge of 0.75 per cent. The funding will support implementation of the Second National Agricultural Technology Programme (NATP II), which is aimed at increasing and diversifying the productivity of crops, livestock and fisheries, and enhancing poor farmers access to markets. The project will help enhance nutrition by ensuring food safety and more diversified food consumption. Through emphasising demand-driven research and modern agricultural technology, it will help increase farm yields and adaptation to climate change, said a WB statement. The project will cover 57 districts to benefit small-scale farmers through stronger linkages with research, agricultural extension services, farmer groups, and on-farm demonstrations to promote improved agricultural technologies. The project will focus on training for farmers and agricultural extension field staff to ensure knowledge sharing and technology transfer. Commenting on the project, the WB country director said that it would help achieve food security, improve resilience to climate change, and enhance nutrition through safer and more diversified food.