Sunday, 26 July 2009 17:00

BRAC and Islamic Development Bank sign agreement for support to cyclone victims

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27 July 2009, Dhaka. BRAC is pleased to announce that an agreement was signed on July 26th, with the Special Assistance Office of the Islamic Development Bank (IDB) under which IDB will provide USD 5 million for operating and administering the agricultural component of the “Fael Khair” programme for cyclone victims in Bangladesh.

 

Dr. Mohammed Hassan Salem (Head of the Special Assistance Office) and Dr. Mahabub
Hossain (Executive Director of BRAC) in the signing ceremony.

 

The agreement was signed by Dr. Mohammed Hassan Salem, Head of the Special Assistance Office, and Dr. Mahabub Hossain, Executive Director of BRAC. Under the terms of the three year agreement, BRAC will  mplement the agro component initially in the Bagerhat, Barguna, Satkhira and Khulna districts, severely affected by cyclone Sidr and Aila. The “Fael Khair” is a USD 130 million IDB trust relief assistance to the victims of cyclone Sidr. A Memorandum  of Understanding was signed between IDB and the Government of Bangladesh in December 2008 for the implementation of the trust’s objectives. A part of the trust is to be used for the agricultural rehabilitator of victims of cyclones and other natural calamitie  in the form of interest free loans for inputs for crop production and fisheries.

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