The government has signed a grant agreement of $2 million with Asian Development Bank (ADB) to develop innovative new crop insurance products in Bangladesh.
The government of Japan is providing the grant through the Japan Fund for Poverty Reduction, said a press release.
Saifuddin Ahmed, joint secretary of Economic Relations Division (ERD) signed the agreement on behalf of Bangladesh government while Oleg Tonkonojenkov, officer-in-charge and deputy country director of ADB’s Bangladesh Resident Mission signed the agreement for ADB at a ceremony at ERD in the capital.
ADB will administer the fund, and provide technical support for implementing the Weather Index-Based Crop Insurance Project.
