The loss will be reduced by 11.6 billion dollars at the cost of 1.2 billion dollars in the agricultural sector

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A private study has revealed that if 1.2 billion US dollars are spent in the agriculture sector by 2030 to combat the impact of climate change in the country, it is possible to reduce the loss of 1.16 billion dollars.

Last Wednesday (August 2, 2023), the results of this study were presented in a round table meeting held at Sheraton Hotel in the capital. In the event, it was said that the country's policymakers claim that the government is working to build a sustainable agriculture sector. However, working on issues like climate change requires coordination between the government and the private sector.

Btopi Das Chowdhury, Head of Corporate, Brand and Marketing Division, Standard Chartered Bank (SCB) Bangladesh, presented the results of the research in a round table meeting titled 'Climate Adaptation: Bangladesh's Opportunity for Agricultural-based Industrial Development'. SCB Bangladesh, the International Chamber of Commerce Bangladesh (ICCB), and the Food and Agriculture Organization of the United Nations (FAO) jointly organized this discussion.

Btopi Das Chowdhury said that if the challenge of climate change is to be faced in the agricultural sector, investment should be increased. 1.2 billion dollars to be spent on the agriculture sector by 2030. It will be possible to overcome the loss equivalent to 1,160 million dollars in the agricultural sector at this time.

Speaking as the chief guest at the event, Agriculture Minister Mohammad Abdur Razzak said, 'The issue of water management for sustainable agriculture will become important in the future. The government is working for that. We want to see agriculture as a more profitable sector. For that, commercial agriculture should be done well. Investment in agricultural processing industries should be increased.

Calling for the use of technological innovation, the Minister of Environment, Forest and Climate Change, Mohammad Shahab Uddin, said that employment should be created by investing in the agricultural processing industry. The economy needs to be strengthened. It is not possible for the government alone, the participation of the private sector is also important.

ICCB president Mahbubur Rahman presided over the program. ICCB Vice President AK Azad, Standard Chartered Bank Bangladesh Chief Executive Officer (CEO) Nasser Ejaz Bijay, Acting Representative of FAO in Bangladesh Nur Khandkar, and Additional Secretary of Ministry of Agriculture Ruhul Amin Talukder spoke.

Bangladesh Bank Executive Director Mohammad Khorshed Alam, ACI Agrolink Managing Director FH Ansari, Bengal Meat CEO AFM Asif, Agricultural Economist TS Amjad and FAO Senior Agronomist Mohammad Abdul Quader participated in the panel discussion.

Source:
Online/GFMM