The country's spending on rice imports have increased twelve fold during the first eight months of FY 2013-14 (July 2013 - June 2014), compared with that of the same period in FY 2012-13, according to the Bangladesh Bank.
The Bank’s data shows that actual import settlements for rice stood at $171.58 million between July 2013 and February 2014 against $13.24 million during the same period last year, say local sources. The Bank also says that rice imports surged despite an increase in rice production in FY 2012-13. Decline in international rice prices, increase in domestic rice prices, appreciation of Bangladeshi taka against the U.S. dollar are the ...
WB finalising plans to lend $2.7b to Bangladesh
The World Bank (WB) is finalising plans to lend Bangladesh a sum of $2.7 billion for investment purpose, its president Jim Young Kim said.
“...through the (proposed) $2.7 billion of new lending, we hope to again, just engage very directly with the government and with all of the other players to take Bangladesh to even lower levels of poverty,” Kim said.
“We had many other projects going with the government at the same time. We are now just finalising plans to sign agre...
“We had many other projects going with the government at the same time. We are now just finalising plans to sign agre...
Bangladesh signs deal to establish food storage facility
The government of Bangladesh has entered into a financing agreement with the International Development Association (IDA), a unit of World Bank, to establish a food storage facility.
As part of the Modern Food Storage Facilities project, the government will construct steel silos and support the distribution of smaller household silos to 500,000 households.
The steel silos, capable of storing around 535,500 tons of rice and wheat for up to three years, incorporat...
The steel silos, capable of storing around 535,500 tons of rice and wheat for up to three years, incorporat...
Japan supports affordable crop insurance for farmers
The Asian Development Bank (ADB) and the Government of Bangladesh signed a grant agreement of $2 million to develop innovative new crop insurance products that will give small-holder farmers in Bangladesh income protection from increasingly severe storms and natural disasters.
The Government of Japan is providing the grant through the Japan Fund for Poverty Reduction. ADB will administer the fund, and provide technical support for implementing the Weather Index-Based Crop Insurance Project. The Government of Bangladesh is providing in-kind support of $420,000.
Inflation quickens again in March on food prices
Rising food prices helped push Bangladesh's annual inflation to 7.48 percent in March, ending a brief slowdown, the statistics bureau said on Sunday.
Supplies of basic foodstuffs were affected by frequent transport blockades and other unrest in the run-up to elections in January. Food prices in March were 8.96 percent higher than a year earlier, up from February's 8.84 percent increase, the national bureau said. That helped push annual inflation up from February's 7.44 percen...
Supplies of basic foodstuffs were affected by frequent transport blockades and other unrest in the run-up to elections in January. Food prices in March were 8.96 percent higher than a year earlier, up from February's 8.84 percent increase, the national bureau said. That helped push annual inflation up from February's 7.44 percen...
Storm over central bank’s ‘autonomy’
Is the Bangladesh Bank (BB) independent? The answer is both 'yes' and 'no'. The incumbent finance minister feels that the BB enjoys enough autonomy. But the central bank's honchos seem to be not that satisfied with their current level of autonomy.
Late last week, Finance Minister AMA Muhith, while talking to the reporters on conclusion of his meeting with an International Monetary Fund (IMF) mission in Dhaka, vented his anger over a central bank proposal for acquiring greater autonomy.
