Thursday, March 21, 2019 | ePaper

WB lends $500m for dairy, livestock productivity

  • Print
Business Desk :
The World Bank (WB) has approved $500 million to improve livestock and dairy production in Bangladesh in a bid to meet country's growing demand for egg, meat and milk and thereby improve the nutritional intake of its citizens.
According to a WB press release, the Livestock and Dairy Development Project will improve agricultural productivity and market access of 2 million smallholder household farmers and small and medium-scale agro-entrepreneurs.  By stimulating growth and improving livestock production systems, livestock farmers in Bangladesh will have better access to livestock services and practices.
"By increasing livestock productivity, Bangladesh will be better able to meet the food demands of its population," said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal.
"Livestock development also has the potential to create more and better jobs for women, youth, and the vulnerable in rural areas," he added.  The release said the livestock sector employs 14 percent of the total labor force, but more than 70 percent of rural households are engaged in livestock production.
Currently 68 percent of the agricultural labor forces are women and they are mainly involved in livestock and poultry production.  "Climate change impacts on livestock production threaten to hamper the development of livestock," said Manievel Sene, World Bank Team Leader for the Livestock and Dairy Development Project.
"Rural households' livestock assets are highly exposed to risks, including loss of livestock, associated with natural events and major disease outbreaks. Mitigating risks by creating an enabling environment for livestock insurance will reduce the vulnerability of smallholder farmers as well as enhance productivity, "added the World Bank official.  The press release said production in cattle and milk, meat, and poultry meat and eggs is not meeting consumption growth, resulting in rising shortages: it is anticipated that by 2021, there will be annual shortages of 1.5 billion eggs, 0.5 million tonnes of meat, and more than 5.9 million tonnes of milk.
In 2015-2016, imports of dairy reached $248.8 million. Young children, pregnant women and new mothers are particularly vulnerable to nutritional shortfalls.
The project aims to provide at least two million people with food safety information through training, mobile applications, and other multimedia tools.
The credit from the World Bank's International Development Association, which provides grants or zero-interest loans, has a 30-year term, including a five-year grace period.
The World Bank was among the first development partners to support Bangladesh following its independence. Since then the World Bank has committed over $30 billion in grants and interest-free credits to Bangladesh.

More News For this Category

Bolsonaro to visit Trump to firm up conservative alliance

Bolsonaro to visit Trump to firm up conservative alliance

AFP, Brasilia :Brazil's far right President Jair Bolsonaro will meet US counterpart Donald Trump next week to strengthen ties in the nascent regional conservative alliance aiming to ramp up the

Md. Ahsan-uz Zaman, Managing Director of Midland Bank Limited, inaugurating its Agent Banking Centre at Chandahar in Shingair in Manikgonj on Monday. Md. Ridwanul Haque, Head of Retail Distribution, Md. Mahbubur Rahman, Head of Operation Division, Md. Tohidul Amin Mojumder, Head of Paragramme of the Bank and local elites were also present.

Md. Ahsan-uz Zaman, Managing Director of Midland Bank Limited, inaugurating its Agent Banking Centre at Chandahar in Shingair in Manikgonj on Monday. Md. Ridwanul Haque, Head of Retail Distribution, Md. Mahbubur Rahman, Head of Operation Division, Md. Tohidul Amin Mojumder, Head of Paragramme of the Bank and local elites were also present.

German 'wise men' economists slash growth outlook

AFP, Frankfurt Am Main :A revered panel of German economists said Tuesday that slower exports and biting capacity limits had prompted them to lower their growth forecast for the European

Maruf Ahmed, Director of One World Global along with Paisit Wong songsarn, Engineering Director, Sze Mun Foo, Converged Infrastructure Solutions Director of Oracle Solution and Partha Pratim Deb,  Executive Director of Bangladesh Computer Council (BCC), poses for a photograph at a seminar on

Maruf Ahmed, Director of One World Global along with Paisit Wong songsarn, Engineering Director, Sze Mun Foo, Converged Infrastructure Solutions Director of Oracle Solution and Partha Pratim Deb, Executive Director of Bangladesh Computer Council (BCC), poses for a photograph at a seminar on "Accelerating Digital Transformation and Security" jointly organized by The One World Infotech and Oracle at city's Gulshan Club on Monday. International IT experts and local business leaders were also present.

Sri Lanka wins record foreign investment in oil project

AFP, Colombo :Sri Lanka announced Tuesday that an overseas joint venture had committed $3.85 billion to a new oil refinery - the single largest foreign investment in the country's history.The

Asian rally stalls before Fed meeting, pound rebounds from losses

AFP, Hong Kong :Asian markets were mixed Tuesday as investors bide their time until the Federal Reserve's latest policy meeting, while the pound fought back against the dollar after taking

Participants of OPEC agreement see no need to revise deal's parameters

TASS, Baku :The participating countries of the OPEC agreement see no need to revise the parameters of the deal on crude production cut, Russia's Energy Minister Alexander Novak told reporters

PRAN, ADB sign $14.2m loan for inclusive agribusiness in BD

PRAN, ADB sign $14.2m loan for inclusive agribusiness in BD

Business Desk :The Asian Development Bank (ADB) has signed a $14.2 million loan with a local company to enhance inclusiveness in Bangladesh's agribusiness sector.It will support the expansion plans of

74pc export through private commercial banks in 2018

Economic Reporter :Private commercial banks are dominating the country's international trade as around 74 percent export in 2018 took place through them.On the other hand, only 7 percent export was

Japan's investment will expedite development: Tipu

Japan's investment will expedite development: Tipu

Economic Reporter :Commerce Minister Tipu Munshi Wednesday said more Japanese investment would expedite the development of Bangladesh.The minister said this at the plenary session titled "Doing Business with Japan" of