Dhaka, Jun 27 (V7N) – The World Bank has approved an emergency assistance package worth $1.1 billion for Bangladesh to strengthen food security and support vulnerable households and businesses amid rising global prices of fertilizer, fuel and food.
The financial assistance, covering two separate projects, was announced in a World Bank press release issued on Friday.
According to the statement, $300 million has been allocated under the Emergency Assistance for Food Security Project to help Bangladesh import fertilizer required for the upcoming Aman and Boro cultivation seasons.
The project is expected to support rice production on approximately 1.4 million hectares of agricultural land, helping ensure stable food production and safeguard the country's food supply.
The remaining $713 million will be provided through the Contingent Emergency Response (CER) Project, an emergency financing programme designed to help countries respond quickly to unexpected crises and disasters.
The funding will be used to provide cash assistance and livelihood support to affected families, as well as small and medium-sized enterprises (SMEs), with the aim of protecting jobs, sustaining incomes and preserving economic activity during periods of crisis.
In addition, part of the emergency financing will cover the import costs of essential fuel and gas supplies to ensure uninterrupted delivery of critical public services, including food distribution, healthcare, medical equipment, electricity generation and water supply.
The World Bank said the approved financing is expected to be fully disbursed by Wednesday, enabling the government to implement the projects promptly and address the country's immediate economic and food security challenges.
The assistance is intended to help Bangladesh strengthen its resilience against external economic shocks while supporting agricultural production, employment and essential public services.
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