Climate-Smart Agriculture Investment Plan launched

Bangladesh and the World Bank on Wednesday jointly launched the Climate Smart Agriculture Investment Plan to address impacts of climate change on agriculture as well as to prioritise investments to improve productivity, resilience and mitigation in the agriculture sector.

The Investment Plan identifies five key areas for investment totalling about $809 million to set the agriculture sector on a resilient growth path; contribute towards achieving the government's 2041 development targets; reduce emissions, and reach the Nationally Determined Contribution regarding climate change and the Delta Plan goals, said a press release issued by the World Bank.

Climate-smart agriculture can help Bangladesh maintain rice self-sufficiency and increase non-rice crop, livestock and fish production."Being among the countries most vulnerable to climate change, Bangladesh must take urgent actions to build on its impressive track record in the agriculture sector," said Dandan Chen, acting country director for Bangladesh and Bhutan.

"We are encouraged to see that the government considers climate-smart agriculture a strategic priority investment in response to changing climate. The Livestock and Dairy Development Project is a testament to the government's vision of a climate resilient growth path, which will help the country meet demand for essential nutrients such as egg, meat and milk."

"Evidence-based climate smart investments and implementation of the Delta Plan 2100 would help Bangladesh overcome climate change risks for a more productive and climate resilient agriculture sector," said Agriculture Minister Dr Muhammad Abdur Razzaque.

The $500 million Livestock and Dairy Development Project, which was also launched today, will help improve livestock and dairy production as well as ensure better market access of 2 million household farmers and small and medium-scale entrepreneurs.

It will also help stimulate private sector investment and the development of livestock value chains in the country."The project will help substantially and sustainably increase livestock production to feed the growing population," said Md Ashraf Ali Khan Khasru, minister for fisheries and livestock.