The funds will be disbursed through the Korea International Cooperation Agency
The Republic of Korea is set to contribute US$4.6 million to support World Food Programme (WFP) operations – that help households and communities become more resilient in the face of natural disasters – in Bangladesh.
The funds will be disbursed through the Korea International Cooperation Agency (Koica), the government’s organization for delivering assistance to developing countries, read a joint press release by WFP and Koica.
The Building Resilience to Achieve Zero Hunger (BRAZH) initiative aims to reach over 4,000 families living in flood-prone areas, in the Kurigram Sadar and Chilmari sub-districts of Kurigram district, in the northwest of the country from 2018 to 2021.
WFP, with the help of Koica, will be able to pilot a series of innovative approaches to resilience-building, including micro-insurance products to protect smallholder farmers and day labourers; forecast-based financing models to disburse aid before a predicted weather disasters; and seasonal livelihood planning to develop climate-resilience options.
These activities will be conducted in close partnership with the Bangladeshi Ministry of Disaster Management and Relief, the Department of Disaster Management, local government, as well as national and international technical institutes.
This partnership with Koica follows the successful implementation of the three-year Saemaul Zero Hunger Community Project from 2014 to 2017 with a contribution of US$3 million. For this project, communities engaged in disaster risk-reduction work received cash grants and allowances to build their economic resilience.
“These activities were designed based on the Saemaul Undong principle of self-help, diligence, and cooperation—with participation and contribution based on Korea's community development experience,” said Koica Country Director for Bangladesh Joe Hyungue.
Koica was established as a government-funded agency dedicated to grant aid programs in April 1991. The organization strives to combat poverty and support the sustainable socio-economic growth of developing countries—based on core values of promoting peace, people, and prosperity.