The USAID, an American overseas development agency, plans to spend $922 million in Bangladesh in the next five years in partnership with the private sector mainly to promote the country's farm sector.
The agency will help the country produce high-yielding rice with more nutritional values, said USAID Mission Director in Bangladesh Richard Greene yesterday.
The USAID's fund will be used to improve the citizens' confidence in governance, for food security and in response to climate change, he said.
Greene spoke while addressing local and foreign businessmen at the regular luncheon meeting of American Chamber of Commerce in Bangladesh (AmCham) at Ruposhi Bangla Hotel in Dhaka.
The development agency now works with the state-owned Bangladesh Rice Research Institute and Bangladesh Agricultural University to innovate high-yielding varieties of rice.
“We are now looking for entrepreneurs from the private sector to work in partnership with them,” Greene said, adding that the entrepreneurs will do business to make profit through serving the people.
“We can also form groups of small farmers in rural areas for marketing of the agri-products so that they can get the real prices for their produce.”
The USAID (United States Agency for International Development) targets to reduce malnutrition by 20 percent in the next five years especially from the country's southern areas, Greene said.
He also said the US government may increase the number of scholarship for agricultural students in his country so that they can do research in the farm sector.
But, research on domestic issues is critical for innovation, he said.
AmCham President Aftab ul Islam moderated the meeting while US Ambassador in Bangladesh Dan W Mozena also spoke.