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World Bank increases financing for Bangladesh's food security project Bangladesh

World Bank increases financing for Bangladesh's food security project

India Blooms News Service | @indiablooms | 02 Aug 2020, 07:31 pm

Dhaka/UNI: World Bank's Board of Executive Directors has approved a 202 million US dollar additional financing package for Bangladesh's Modern Food Storage Facilities Project so as to increase the country's storage capacity.

The project aims to increase Bangladesh's national strategic grain reserves by 5,35,500 tons. Bangladesh is highly vulnerable to natural calamities like floods and climate induced disasters hence having enhancing the country's strategic storage capacity is very important.

Under the project eight public modern grain storage steel silo complexes for rice and wheat would be constructed in eight different districts.

Xinhua quoted the acting World Bank Country Director for Bangladesh and Bhutan Mohammad Anis saying that "Nearly 80 percent of Bangladesh's population lives in rural areas with climate shocks threatening their livelihoods, welfare, and food security."

Anis felt that the food storage system would be very helpful in times of a natural disaster "This modern food storage system, combined with an effective distribution system, will help ensure food security after a natural disaster or during a crisis such as the current COVID-19 pandemic."

The world bank's statement claimed that the project has already helped to manufacture and distribute 5,00,000 household air- and water-tight food containers ("household silos") to poor farmers and women-headed vulnerable households in disaster-prone coastal areas.