World Bank (WB) on Saturday approved $1.1 billion for two projects to help Bangladesh mitigate the price and supply volatility in the global fertiliser and fuel markets, sustain food security, and enable rapid response.
The Emergency Support for Food Security Project ($300 million) will provide time-bound financing to help Bangladesh import fertilisers critical for the Aman and Boro seasons in July�"October 2026 and October 2026�"April 2027, respectively.
The project will finance imports of 600,000 metric tons of critical fertilisers, half of which would be Urea, covering 1,400,000 hectares of rice production cultivated by smallholder farmers, the World Bank said in a press release.
“Rising food, fertiliser, and fuel prices stemming from the Middle East conflict, along with tighter fiscal space have deeply impacted Bangladesh’s economy, hitting smallholder farmers as well as poor and vulnerable people the hardest,” said Jean Pesme, World Bank Division Director for Bangladesh and Bhutan, according to UNB report.
“The World Bank has stepped up with immediate support to help Bangladesh mitigate this impact to ensure fertilizer supply for rice production, protect households, jobs and livelihoods and continue with essential services.”
“Bangladesh’s food security depends on Aman and Boro rice seasons, which together account for about 90% of the country’s total rice production. Further, about half the population is employed in agriculture sector. So, any disruption in fertilizer supply would not only threaten food security, it would deepen poverty and cost jobs,” said Souleymane Coulibaly, World Bank Lead Economist and Task Team Leader for the project.
The Contingent Emergency Response Project ($713 million) will support quick-disbursing emergency expenditures, including cash transfers and livelihood assistance for affected households and micro, small, and medium enterprises, helping stabilize incomes and preserve jobs during crises.
