WB approves $270m financing to support Bangladesh in flood risk reduction

WB approves $270m financing to support Bangladesh in flood risk reduction

At least 65,000 farm households will receive support to improve agricultural productivity through the adoption of high-yielding, climate-resilient, and sustainable crop production technologies and access to agricultural machinery and improved irrigation and storage facilities. The project will set up seed villages to supply quality seeds and seedlings, support women in homestead and community gardening, and create farmer groups to share knowledge on sustainable agricultural practices. Consequently, food security and nutrition will improve too. The multi-sectoral nature of the project supports sectors that were not sufficiently covered by existing flood recovery initiatives. The World Bank was among the first development partners to support Bangladesh following its independence. Since then, the World Bank has committed more than $45 billion in grants and interest-free credits to Bangladesh. In recent years, Bangladesh has been among the largest recipients of the World Banks interest-free credits.