USD 92.30-mn deal signed with IFAD for dev of vulnerable

14 Feb,2018

Rome (Italy), BdChronicle:

Bangladesh on Tuesday signed a financing agreement with the International Fund for Agricultural Development (IFAD) to sustainably improve incomes and promote resilience to extreme weather conditions for 3.30 lakh rural households in six flood-prone districts in northern Bangladesh.

Economic Relations Division secretary Kazi Shofiqul Azam and IFAD president Gilbert Foussoun Houngbo signed the USD 92.30-million agreement on behalf of their respective sides.

Prime Minister Sheikh Hasina witnessed the signing ceremony that took place at the IFAD Headquarters.

According to the agreement titled 'Promoting Resilience of Vulnerable through access to Infrastructure, Improved Skills and Information', IFAD will give USD 63.25 million at very concessional rate where there will be a grant of USD 1.25 million. The rest of the money will come from the internal source of the Bangladesh government.

The six-year long project, launched this year, will be implemented in Panchagarh, Dinajpur, Nilphamari, Rangpur, Gaibandha and Jamalpur districts.

While briefing reporters, Foreign Secretary M Shahidul Haque said a number of people of 3.30 lakh people of these six districts will directly be benefitted with this project.

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