The World Bank (WB) called for raising the country's allocation for agricultural research Tuesday, saying poor spending in this field is harming poverty reduction and food security initiatives, reports BDNEWS.
The WB proposed increasing the spending on agricultural research to 0.6 per cent of the Agricultural gross domestic product (GDP) from the current allocation of only 0.2 per cent, according to a WB report titled "Revitalising Agricultural Technology System in Bangladesh," released Tuesday.
The study report was based on detailed analysis and exten sive consultations with various stakeholders, including researchers, scientists, extension specialists, non-government organisations (NGOs), agro-processing enterprises, farmers and government officials.
The report said a dynamic agricultural technology system is vital to ensure national food security and reduce poverty in the face of declining agricultural land base and increasing population.
However, the continuing recent trend in agricultural research and extension will have a detrimental impact on the sector, it added.