City Bank, in collaboration with Heifer International Bangladesh, distributed 600 tonnes of poultry feed and fish feed to over four hundred marginal farmers in Poba, Rajshahi. This initiative aims to support the farmers in their poultry and fish farming activities, providing them with the necessary resources to improve their productivity and income. The bank's partnership with Heifer International Bangladesh demonstrates its commitment to promoting sustainable agriculture and empowering rural communities. By providing essential feed to the farmers, City Bank is contributing to the development of the agricultural sector and ensuring food security in the region. [ff18d455]
In another development, the International Finance Corporation (IFC) has announced a $30 million investment in Pran Dairy Limited (PDL) and Habiganj Agro Limited (HAL), both part of the PRAN Group in Bangladesh. The investment aims to support severely impacted businesses amid a shortage of US dollars in the country. The funding will help improve the resilience of the food processing market, create jobs, foster gender diversity, and strengthen the economy. This is the first of IFC's USD term loans to be used for working capital purposes in Bangladesh. The investment will enable PDL and HAL to sustain operations, increase exports, and preserve over 30,000 jobs. The IFC will also support PRAN Group in improving the participation of women and inclusion in their workplace. The F&B sector accounts for approximately 13% of the manufacturing production value and employs 19% of the industrial manufacturing workforce in Bangladesh. The current shortage of foreign exchange, higher energy prices, and power shortages have disrupted the import of raw materials and constrained local commercial banks' lending ability. IFC's longer-term US dollar financing will help improve access to foreign exchange and support Bangladeshi companies in navigating the crisis. Martin Holtmann, IFC Country Manager for Bangladesh, Bhutan, and Nepal, stated that the financing aims to ease the lack of access to foreign exchange and enable private sector growth in Bangladesh, contributing to food security and supporting strategically important industries. Since 2010, IFC has invested over $3.8 billion to help the private sector grow in Bangladesh. [5663a6d2]
Meanwhile, the Special Investment Facilitation Council (SIFC) has launched the Green Pakistan Initiative to modernize the agriculture sector in Pakistan. The initiative aims to develop over seven million hectares of previously uncultivated land. Foreign investors have signed contracts to cultivate 140 thousand acres, while 85 domestic investors and firms have committed to cultivating 460 thousand acres of land. The establishment of the Land Information and Management System will enhance productivity and efficiency in agriculture. The initiative is expected to boost national exports, improve food security, and create more employment opportunities. The government and military efforts have increased the cultivable area, and many local and foreign investors have expressed confidence in the initiative and signed agreements for investment in the agriculture sector. [a00b663a]
In Samba, along the India-Pakistan international border, farming has resumed after 12 years. Previously, fear of firing from Pakistan had forced farmers to abandon their fields, leaving 800 kanals of land barren. With the efforts of the Border Security Force (BSF), 500 kanals have been leveled and made suitable for cultivation, with ongoing efforts to prepare the remaining 300 kanals. Agriculture Department officials visited the site to distribute free seeds to farmers, encouraging them to resume farming activities. The resumption of farming is expected to bolster the local economy and empower farmers. The ceasefire agreement and proactive measures by the district administration have created a conducive environment for agriculture. Farmers now feel secure enough to return to their fields. The construction of a dam on the zero line has further enhanced their sense of security. The district administration has organized efforts to contact farmers and promote urad cultivation, providing seeds and commencing sowing on the reclaimed 500 kanals of land. [30ef4f29]
Bangladesh's export earnings can be boosted by expanding crab farming as global demand for crabs is rising. A workshop titled 'Possibilities of the crab industry in Bangladesh: existing problems and possible actions' was held at the Palli Karma-Sahayak Foundation (PKSF) Bhaban in the capital's Agargaon. Representatives from various government and non-governmental organizations emphasized the need for increased research and collaboration to develop the sector. The event was organized under the Resilient Homestead and Livelihood Support to the Vulnerable Coastal People of Bangladesh (RHL) project and funded by the Green Climate Fund (GCF). PKSF has undertaken various initiatives to advance crab farming, including the establishment of crab hatcheries, crablet production, and the expansion of crab farming technologies. [3fd15a59]