Korea to provide $39.3m grant for rural development in Bangladesh
The eight-year project will cover 114 villages in Cumilla, Feni and Bogura, focusing on agriculture, climate resilience and rural incomes.
South Korea will provide a $39.286 million grant to Bangladesh for an eight-year programme aimed at improving rural livelihoods, agricultural productivity and climate resilience in 114 villages in Cumilla, Feni and Bogura.
The government of Bangladesh and three South Korean agencies -- the Korea International Cooperation Agency (KOICA), Ministry of the Interior and Safety (MOIS), and Rural Development Administration (RDA) -- signed the Record of Discussion and Terms of Reference for the project, according to a press release issued by the Economic Relations Division (ERD) today (17 September).
The project, titled "Saemaul Plus End Poverty Program (SPEPP) in Bangladesh," will be implemented from 2026 to 2034.
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Of the total grant, KOICA will provide $30 million, MOIS $5.686 million and RDA $3.6 million.
The project aims to strengthen the capacity of government and communities to carry out sustainable rural development, enhance agricultural productivity and climate resilience, and increase rural household incomes.
It will also focus on strengthening agricultural value chains and promoting community-based business activities, the ERD said.
The project will cover 114 selected villages in Cumilla and Feni districts under Chattogram Division and Bogura district under Rajshahi Division.
The Bangladesh Academy for Rural Development (BARD) will serve as the lead implementing agency under the Rural Development and Co-operatives Division of the Ministry of Local Government, Rural Development and Co-operatives.
Masuma Akter, additional secretary and wing chief (Asia, JEC and F&F) of the ERD, signed the RoD and ToR on behalf of the Bangladesh government.
Jihoon Kim, country director of KOICA, signed the documents on behalf of the Korean government.
