Bangladeshi government has new $7.98 billion food security plan
Mar 21, 2011
A five-year plan in Bangladesh aims at fighting food security concerns in the country with a $7.98 billion plan, according to TheDailyStar.net.
A draft of the Country Investment Plan (CIP) was discussed on March 20 with business partners and other financiers. The plan, which began in summer of 2010, is expected to be finalized within the next month.
“They will provide for substantial employment to overcome poverty problem over a period of next 10 to 13 years,” said Finance Minister AMA Muhith at the National Forum on Improving the Bangladesh Country Investment Plan (CIP) for Agriculture, Food Security and Nutrition, reports the news source.
According to Agriculture Minister Begum Matia Chowdhury, Bangladesh is in need of diversification, especially in terms of cereal production.
"As population is increasing and land is decreasing, equitable distribution of foods emerges as the biggest challenge," said Chowdhury.
Natural disasters have also plagued Bangladesh. The economy has, however, grown at a rate of about 5 to 6 percent since 1996, according to the CIA Factbook. The country is still struggling with infrastructure and corruption as well as much-needed economic reforms.