The World Bank is providing approximately 1.1 billion US dollars (about Tk 13,200 crore) as emergency assistance to Bangladesh to ensure food security, protect livelihoods and deal with the impact of volatility in the global fertilizer and energy markets. The funding was approved on Friday under two separate projects.
According to a release from the World Bank, due to the conflict in the Middle East, there has been an increase in the prices of food, fertilizers and fuel in the world market and instability in the supply. At the same time, due to limited financial capacity, small farmers, poor and vulnerable communities are the most affected in Bangladesh.
World Bank Divisional Director for Bangladesh and Bhutan Jean Pesme said, through this assistance, it will help ensure the supply of fertilizers needed for rice production, protect people’s livelihoods and employment, and continue emergency services.
Among the sanctioned funds, 300 million dollars (about 3,600 crore taka) will be given under ‘Emergency Support for Food Security Project’. This money will help in import of fertilizer required for Aman season from July-October 2026 and Boro season from October 2026 to April 2027.
According to World Bank data, more than 85 percent of Bangladesh’s total fertilizer demand is dependent on imports. The project will finance the import of 6 lakh metric tonnes of essential fertilizers, half of which is urea. It will help small farmers to continue rice production on about 14 lakh hectares of land.
Project Task Team Leader and World Bank Chief Economist Suleiman Coulibaly said that about 90 percent of the country’s total rice production comes from the Aman and Boro seasons. Besides, almost half of the people of the country are dependent on agriculture. As a result, if the supply of fertilizers is disrupted, it will not only have a negative impact on food security, but also on employment and poverty conditions.
On the other hand, 71 million 3 million dollars (about 8 thousand 556 million Taka) will be given under the ‘Contingent Emergency Response Project’. The money will be released quickly and spent on cash assistance and livelihood restoration programs to affected families, small and medium entrepreneurs. Besides, the energy sector will be spent to keep emergency services like food, medicine, medical equipment, electricity and water supply running. The project money will be released by June 30.
World Bank Disaster Risk Management Specialist Leslie Jean Yu Cordero said the assistance will create opportunities for quick access to funds by reallocating unused funds to existing projects. As a result, it will be possible to protect people, businesses and employment from economic shocks.
Times BD/RA
