Dhaka, Bangladesh, August 3, 2011—
IFC, a member of the World Bank Group, will partner with the state-run Bangladesh Rice Research Institute, International Rice Research Institute, and Lal Teer Seed Ltd. to promote climate-resilient agricultural practices in Bangladesh, helping rice farmers weather the harmful impact of climate change and ensure national food security.
The SouthAsia Enterprise Development Facility, managed by IFC in partnership with the Norwegian Agency for Development Cooperation and the U.K. Department for International Development, has been actively supporting the promotion of climate-resilient agricultural practices in Bangladesh by working with the public and private sector to ensure the most efficient mobilization of resources.
IFC will work with Lal Teer, a seed company focused on sustainable agriculture, to market stress-tolerant rice seeds able to withstand extreme weather conditions through the development of a contract farming system, build farmers’ capacity, and provide advisory and financial support to the company.
The four organizations will cooperate to expand and disseminate improved research technology and useful agricultural practices for farmers. They will also work on increasing awareness and training for farmers, including on-farm demonstrations.
In a joint statement, the Bangladesh Rice Research Institute, International Rice Research Institute, and Lal Teer said, “Through this partnership, we will make improved stress-tolerant rice varieties accessible to farmers in an efficient way and help uplift the livelihood of the poor farmers.”
Agriculture accounts for 20 percent of Bangladesh’s gross domestic product and employs 65 percent of the country’s labor force. However, more than 50 percent of Bangladesh’s arable land has been affected by saltwater intrusion, submergence, or drought.
“This unique collaboration among leading agricultural organizations in the public and private sector will greatly contribute toward sustainable agriculture and the country’s food security,” said Mrinal Sircar, IFC Program Manager.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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