World Bank provides $1.1 billion in emergency assistance to Bangladesh

The World Bank is providing major assistance to Bangladesh to cope with global economic stress. The organization has approved about $1.1 billion, or about Tk 13,200 crore in Bangladeshi currency, as emergency assistance. The main goal of this assistance is to ensure food security, agricultural production, and the livelihood of the common people.

The World Bank said that many developing countries, including Bangladesh, are under pressure due to the instability of fertilizer, fuel, and food prices in the international market. In this situation, the country's small farmers, low-income people, and vulnerable populations are being hit the hardest.

A large part of this money will be used to import fertilizer, so that agricultural production can be maintained normal during the upcoming Aman and Boro seasons. There are plans to import about 600,000 metric tons of fertilizer, through which it is expected that paddy production will continue on lakhs of hectares of land.

In addition, another part of the project will provide cash assistance to affected families, small and medium entrepreneurs, and money will be spent on emergency services. Those concerned believe that this fund will play an important role in maintaining normal electricity, water, medicine, and food supplies.