The government of Bangladesh and the World Bank today signed two financing agreements totaling $858 million to enhance climate-resilient agricultural growth, food security, and improve road safety.

The $500 million Program on Agricultural and Rural Transformation for Nutrition, Entrepreneurship, and Resilience (PARTNER) will help transform the agriculture sector by promoting crop diversification, food safety, and climate resilience across agri-food systems of Bangladesh. 

The Program will support sustainable and nutritious food production through greater efficiency in input use, good agriculture practices, and the promotion of stress-tolerant and nutrient-dense varieties. It will help increase entrepreneurship and access to services by expanding access to digital agricultural services tools, improved food safety processes, and increased female and youth entrepreneurship. It will also help modernize institutions and policies through improved data management, increased research and development activities, and partnerships with global agricultural research institutions and with the private sector.

“Bangladesh has made remarkable development and economic growth since independence.  New frontiers of challenges, like increasing climate change impacts, now call for urgent actions. The World Bank is committed to helping Bangladesh overcome barriers to sustainable and inclusive green growth,” said Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan. “These two projects will be important to help the country remain on a sustainable growth path through boosting climate-resilient agricultural productivity and enhancing the income of hundreds and thousands of farmers as well as protect the people and the economy from the loss caused by untimely deaths, disabilities, and injuries resulting from road crashes.”

The $358 million Road Safety Project—which is the first dedicated road safety project in South Asia supported by the World Bank—will help the country improve road safety and reduce deaths and injuries from road traffic crashes in selected high-risk highways and district roads. In two national highways—N4 (Gazipur-Elenga) and N6 (Natore to Nawabganj)—the project will pilot comprehensive road safety measures, including improved engineering designs, signing and marking, pedestrian facilities, speed enforcement, and emergency care.  

It will help modernize the capacity of the Traffic Police and highway patrol to manage speeding and prevent risky road user behavior. To improve post-crash care, it will set up an ambulance service via a toll-free number and upgraded emergency care services in selected district hospitals, and Upazila Health Complexes along the two national highway corridors. 

“These two projects will contribute to the country’s vision of achieving upper-middle income status by 2031,” said Sharifa Khan, Secretary, Economic Relations Division, Government of Bangladesh. “Our National Agriculture Policy places high priority to ensure nutrition, food security, and climate resilient agriculture and the new Road Transport Act places a substantial focus on road safety. By ensuring food security, empowering farmers, creating opportunities for entrepreneurship as well as improving road safety management and minimizing tragic loss of human lives, these two projects will contribute to sustainable economic growth.”

The agreement was signed by Sharifa Khan and Abdoulaye Seck on behalf of Bangladesh and the World Bank, respectively. 

The credits are from the World Bank’s International Development Association (IDA) and have a 30-year term, including a five-year grace period. The PARTNER project will also receive a $43 million co-financing from the International Fund for Agricultural Development (IFAD). 

Bangladesh currently has the largest ongoing IDA program totaling $16.3 billion. The World Bank was among the first development partners to support Bangladesh and has committed about $40 billion in grants, interest-free and concessional credits to the country since its independence.

The Electronics Safety & Security Association of Bangladesh (ESSAB) on Friday night awarded nine buildings and companies for maintaining fire safety properly.

Besides, recognition and financial gifts were distributed among the family members of the thirteen fire fighters who died in a single fire incident while tackling the blaze and explosions at the Sitakundu BM Container Depot in Chattogram.

State Minister for Disaster Management and Relief Dr. Md. Enamur Rahman handed over gifts among them at the ‘8th International Fire Safety and Security Exhibition (IFSSE) titled, “ESSAB safety excellence award ceremony”  at Bangabandhu International Conference Centre (BICC) in the capital.

The nine awardees are—Concord-Sikander Heritage in residential building; Update tower, AIUB, and Sheltech Northern Star in Commercial Building; Mondol Intimates Limited, SQ Ceisius Ltd, and Vertex RMG Division in Industrial Building (RMG); Picard Bangladesh Ltd, and Berger Becker Ltd. in Industrial Building (Others).

Speaking the award ceremony, State Minister for Disaster Management and Relief Dr. Md. Enamur Rahman said RAJUK and Fire Service and Civil Defense won’t provide licences anyone if fire safety is not maintained in future.

“Now Bangladesh has eight green factories among 10 in the world. As a result, our export volume has gone up. The ESSAB has provided all fire safety equipment to build the green factories here,” he added.

Mentioning the government is setting up 100 economic zones, Enamur urged entrepreneurs to manufacture the equipment and export it meeting local demand as now Bangladesh has to import over 95 percent equipment.

FBCCI vice President Amin Helaly, and Director (training, planning and development) of Dire Service and Civil Defence Lt Col Rezaul Karim spoke there.

Organised by the Electronics Safety & Security Association of Bangladesh (ESSAB) and co-partnered by Bangladesh Fire Service and Civil Defence (BFSCD), the three-day-long expo aims to showcase new firefighting technology and create awareness among people of the country.

ESSAB President Zahir Uddin Babar gave welcome speech while its Secretary General Mahmudur Rashid, Senior Vice President Niaz Ali Chist, Publicity Secretary Nazrul Islam among others were also present there.

A training on ‘Sustainable Finance for Sustainability: Challenges and Opportunities’, organised by Bangladesh Bank and Improved Coordination of International Climate Finance (ICICF) project was held in Khulna recently. Thirty officials from the commercial bank branches in Khulna and Bangladesh Bank Khulna office participated in the event.

The ICICF project is implemented by GIZ Bangladesh on behalf of the German Federal Ministry for Economic Cooperation and Development.

The project has been working closely with the Government of Bangladesh to help the country mobilise climate finance from the international and national level. With an objective of supporting the financial sector in implementing the sustainable finance policy circulated by the central bank, the project has been working with the Sustainable Finance Department of Bangladesh Bank. As a part of this initiative, this workshop was arranged to enhance capacities of the divisional-level bankers.

Dr. Firdaus Ara Hussain, Principal Advisor, ICICF Project, emphasised the importance of strengthening capacities of relevant stakeholders for accessing international climate finance sources to ensure sustainable development initiatives of the country during her welcome remarks.

Sessions on topics related to sustainable financing, refinancing schemes, monitoring and reporting procedures were conducted by Mr. Khondkar Morshed Millat, Director of Sustainable Finance Department and Dr. Shah Md. Ahsan Habib of Bangladesh Institute of Bank Management (BIBM).

Executive Director of Bangladesh Bank Khulna Office, Mr. S M Hasan Reza distributed certificates among the participants after the training. In his closing speech Mr. Reza emphasized the need of capacity strengthening support for the local bankers on sustainable financing. He thanked the participants and the organisers of the programme and requested GIZ to continue supporting this kind of initiatives in the local level for ensuring sustainable development.

An awareness building programme on the same topic targeted towards the local business community was arranged also. The speakers threw light on different pertinent issues related to the benefits of environment-friendly investment & policy-driven sustainable finance opportunities for investors. There was also an open discussion session where the participants discussed the challenges and scopes of sustainable investment in the local context.