IFAD reassures support to transform Bangladesh’s rural economy

The International Fund for Agricultural Development (IFAD) has reassured its continuous support in transforming Bangladesh's rural economy.

The pledge was made when IFAD's newly appointed Country Director for Bangladesh Dr Valantine Achancho presented his credentials to foreign affairs adviser Md Touhid Hossain at the Foreign Ministry here on Wednesday, said a IFAD press release on Friday, reports BSS.

During the meeting, Achancho said IFAD remains deeply committed to improving the lives and livelihoods of rural communities by boosting agricultural productivity, increasing rural incomes, and empowering smallholders and farmers, women, and youth.

"Bangladesh has incredible potential when it comes to agriculture and transforming rural communities. I am excited to collaborate with the government, our partners, and local communities to strengthen agricultural systems and improve lives across the country," he said.

By working together, the country director said, "We can create sustainable growth and give smallholder farmers the support they need to overcome challenges and thrive."

Before coming to Bangladesh, Achancho served as IFAD Country Director and Representative for the Democratic Republic of Congo and the Republic of Congo from 2020 to 2024, and has previously held the same position for Niger, Burkina Faso, and Chad.

In his new role of Country Director for Bangladesh, Achancho will be advocating for and enhancing national government programmes that strengthen climate resilience in vulnerable rural communities through infrastructure and climate-smart agriculture, while enhancing access to finance, technology, and markets for smallholders and marginalized groups to diversify the economy and create rural jobs.

"I am dedicated to collaborating with our partners to empower rural communities, enabling them to adapt to climate change, tackle economic challenges, and build sustainable livelihoods for long-term resilience," says Achancho.

He also served as IFAD Country Programme Officer for Cameroon and Gabon, and Programme Officer for the Indian Ocean region, contributing to rural development projects in the Sahel and Congo basin, mobilizing co-financing, and strengthening partnerships with governments, donors, and civil society to improve rural livelihoods.

Today, IFAD's programme in Bangladesh is one of its largest. Currently, IFAD has investment of $ 519 million in Bangladesh, distributed across six ongoing projects implemented by the Ministry of Agriculture, the Local Government Engineering Department, Palli Karma-Sahayak Foundation, and the Bangladesh Water Development Board.