The World Bank will provide $ 500 million to produce livestock and dairy products

The World Bank will provide $ 5 million in collaboration to produce livestock and dairy products. Under 2G, more than 2 million family-based farmers, small and medium enterprises will get better market access.

On Wednesday the government signed a cooperation agreement with the World Bank in the capital.

Economic relations division secretary Monowar Ahmed and World Bank’s acting resident head Dendan Chen signed the agreement on behalf of Bangladesh in the conference of National Economic Council of Sher-e-Bangla Nagar.

Under the International Development Cooperation, the World Bank will give this loan to the government of Bangladesh at a rate of 1.25 percent interest and 75 percent of service charges for a 30-year term, including 5 years of grace.

In this, the country’s livestock and milk products production project will be able to involve more private sector. This will increase the supply in the sector with sustainable development.

In the next 2021, there will be an estimated deficit of 1.25 million in the country and the production deficit of about 6 million tonnes of dairy products will be around. The project will help to meet the existing deficiencies in eggs, dairy products and meat in the country