IFAD President praises Bangladesh for its significant project implementation capacity as PR of Bangladesh presents Letter of Commission

Congratulating the IFAD President on his re-appointment, the Ambassador underscored the importance of continuing his great works in the development of rural areas and marginalized people around the globe.

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IFAD President praises Bangladesh for its significant project implementation capacity as PR of Bangladesh presents Letter of Commission

The Policy Times Dhaka Bureau:
Mr. Gilbert F. Houngbo, President of the International Fund for Agricultural Development (IFAD), highly lauded Bangladesh for its significant implementation capacity while noting that the country is currently the largest portfolio of IFAD globally and one of the best performing portfolios with best practices in a number of areas. He shared his deep appreciation during a ceremony on 05 July 2021, which marked the Presentation of Credentials by Mr. Md. Shameem Ahsan, Bangladesh Ambassador to Italy, accrediting him as the Permanent Representative to IFAD.

Congratulating the IFAD President on his re-appointment, the Ambassador underscored the importance of continuing his great works in the development of rural areas and marginalized people around the globe. He highlighted the dynamic leadership of IFAD President to attain the record level of commitment of US$ 1.55 billion for IFAD despite the COVID situation. The developing countries will now receive loans and grants of around US$ 3.8 billion during 2022-24 replenishment cycles.

Bangladesh, considering its impressive utilization capacity of resources, apart from receiving development assistance from the core contribution, can easily access newly created funds like borrowed resources, climate fund, and private sector window with less concessional terms based on demand. Bangladesh is one of the very few countries which receive highest development assistance with significant project implementation capacity along with active representation in the Executive Board and Governance Structure of IFAD- Mr. Gilbert added.

While highlighting the development journey of Bangladesh under the leadership of Prime Minister Sheikh Hasina, the Ambassador briefed him about the outstanding performance of Bangladesh in the agriculture sector along with attainment of food self-sufficiency and drew attention for necessary support from IFAD to meet the particular challenges in agriculture and food security after graduation from the LDC status.

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IFAD President praises Bangladesh for its significant project implementation capacity as PR of Bangladesh presents Letter of Commission
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Congratulating the IFAD President on his re-appointment, the Ambassador underscored the importance of continuing his great works in the development of rural areas and marginalized people around the globe.
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THE POLICY TIMES
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