• Tuesday, Feb 25, 2020
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WB, Bangladesh launch climate smart investments plan to boost agriculture

  • Published at 10:28 pm December 11th, 2019
world bank-Climate Smart Agriculture Investment Plan (CSAIP)
Agriculture Minister Muhammad Abdur Razzaque addresses the launching ceremony of the Climate Smart Agriculture Investment Plan (CSAIP) at Krishibid Institution Bangladesh in Dhaka on Wednesday, December 11, 2019 PID

The plan has a total investment of $809 million by 2041

The government and the World Bank on Wednesday launched the Climate Smart Agriculture Investment Plan (CSAIP) to address the impacts of climate change on agriculture.

The plan also aims to prioritize investments to improve productivity, resilience and mitigation in the agriculture sector.

The CSAIP was launched at a ceremony in Krishibid Institution Bangladesh in Dhaka on Wednesday.

The plan has a total investment of $809 million by 2041. 

During the last 25 years, the country’s agricultural productivity growth has been among the highest in the world and supported around 87% of the country’ rural household, says a World Bank release. 

But, rising temperatures and climate change will affect the yield of Aman and Boro rice, the country’s two major staple crops, adds the release.

High water stress can lead to rice yield losses as high as 70%. Further, soil salinity has affected 62% of coastal land and sea level rise may reduce available cropland by about one-fourth in coastal divisions, it says further.

Agriculture Minister Muhammad Abdur Razzaque said: "Globally, Bangladesh is known for its success in attaining self-sufficiency in rice through improving agriculture productivity.”

“Bangladesh is also diversifying its agricultural production with abundance availability of vegetables and other horticulture products, while the focus is increasingly on safe and quality agri-produce, processing and market development, mechanization and commercialization of agriculture so that it can more effectively enhance food security, farmers’ profitability, employment, and poverty reduction in Bangladesh,” he added. 

“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 including livestock and fisheries,” the minister added.

The Investment Plan identifies five key investment areas totaling 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 (NDC) regarding climate change and the Delta Plan goals, says the  release.

Dandan Chen, acting country director of WB for Bangladesh and Bhutan said : “Being among the most vulnerable countries to climate change, Bangladesh must take urgent actions to build on its impressive track record in the agriculture sector,”

The $500 million Livestock and Dairy Development Project (LDDP), which was also launched yesterday, 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.