Bangladesh, Korea sign deal to boost rural communities

Bangladesh and South Korea signed an agreement on Thursday to implement a $39.286 million grant-funded project aimed at strengthening rural communities, improving agricultural productivity and increasing rural household incomes.

The Record of Discussion (RoD) and Terms of Reference (ToR) for the Saemaul Plus End Poverty Programme (SPEPP) in Bangladesh were signed by representatives of the Government of Bangladesh, the Korea International Cooperation Agency (KOICA), South Korea’s Ministry of the Interior and Safety (MOIS) and Rural Development Administration (RDA).

The project will be implemented by the Bangladesh Academy for Rural Development (BARD) as the lead agency under the Rural Development and Co-operatives Division of the Ministry of Local Government, Rural Development and Co-operatives.

Under the agreement, South Korea will provide $39.286 million in grants, including $30 million through KOICA, $5.686 million through MOIS and $3.6 million through RDA.

The project aims to strengthen government and community capacity for sustainable rural development, enhance agricultural productivity and climate resilience, and increase rural household incomes through stronger agricultural value chains and community-based businesses.

It will cover 114 selected villages in Cumilla and Feni districts of Chattogram Division and Bogura District of Rajshahi Division.

The project is scheduled to be implemented from 2026 to 2034.

Manama Akter, additional secretary and wing chief of the Asia, JEC and F&F Wing of the Economic Relations Division, signed the agreement on behalf of the Government of Bangladesh, while Jihoon Kim, country director of KOICA, signed on behalf of the Government of South Korea.