Dhaka Courier

Financing for cleaner, greener growth

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In today’s world, eco-friendly agriculture has become imperative to the consumption of food free of toxicants, within the paradigm of sustainable economic growth towards middle-income status and climate-resilient Bangladesh. Our food requirements will continue to grow in step with the increase in population. To meet the steady yet growing demand, and cater to the markets the haphazard use of chemical pesticides, herbicides and fertilizers can be seen increasing alarmingly.

Contemporary farming practices and development works have imposed tremendous pressure on environmental security and sustainability. Even farmers are involved in commercial cultivation and contract farming with national and international companies. International agencies counsel local farmers to use hybrid seeds, pesticides, fertilizers, water pulling out machine – formed by them. In general modern agriculture has brought good for farmers. But the existing crisis – higher amount of methane gas production, killing both beneficial and harmful pest, less pollination, arsenic pollution, nutritional pollution, skin diseases of farmers, soil erosion and environmental degradation emerges insurgency.

Farmers employ detrimental agrochemicals in crops land without considering the beneficial pest protection and pollination. Potash, sulphate, calcium carbonate, triple super phosphate are normally used in field. For potato and eggplant they apply − carbendazim, wantap-50, wansilva 10, quinfis-25%, denitol, festaq 2.5, malathion, corden, methoxicore, bydrin, dibrone, diazinon 10, lebasid and diamicron. Fenom, nexin, sevin, diplerox, monotuf 40, have been used for sponge gourd, ribbed gourd, teasle gourd, sweet gourd, cucumber, cabbage, cauliflower and Hyacinth bean. In the same way, for Aush, Amon and Boro − polivit-500, kiridan-5, crijol-5, basudin-10, topsin mithyle, ripcord, dursban 20 and sebin-60 are used.

But such chemicals kill both beneficial and harmful pests. A hitlist may read  − Damri poka, Bolta, Mazra poka, Leda poka, Gandhi poka, Kalo poka, Aphids, small caterpillar, leafhoppers, cabbage maggots which are very essential for pollination and sustainable crop production.

Other context, the organic fertilizers − green wastes, coconut cake, oil cakes, sludge, coal ash, wood ash, paddy husk, castor cake, mustard cake, groundnut cake, linseed cake, neem cake, fish meal, water hyacinths, cow dung, vegetable materials, stool of livestock’s, weeds of big tree, farmyard manures have a possible upshot help in eco-friendly agricultural production. Apart from that, farmers may employ indigenous pesticides from Neem pata, Tamak pata, Guegenta pata, Nishinda pata, Dhuturar pata, Bish katali pata, Mehogonir fol to protect beneficial pests and ensure pollination security.

Financing some or all of that for a single force would run int  should be considered green manures should be considered by environment-friendly endeavors, management of environmental and social risks of the enterprises to promote green climate-resilient growth in Bangladesh. If the concerned authority take steps to finance more on organic manures at grass-roots level − the development would be society and people oriented.

In Bangladesh, the Ministry of Forest, Environment and Climate Change has its own “Climate Change Trust Fund & Climate Change Resilience Fund” to finance green projects.

Also Palli Karma Shahayak Foundation (PKSF), Pilot Project on Climate Resilience (PPCR), Green Climate Fund (GCF) all implement various projects to initiate climate-friendly development. From developed countries, Bangladesh has a chance to get $100 billion a year from 2020; which will facilitate the green financing in Bangladesh.

Bangladesh Bank has launched $200 million green transformation fund to finance solar home system, solar irrigation system, solar assembly plant, solar mini-grid, effluent treatment plant, safe working environment for textiles, paper waste recycling, green industry, vermi- composting and organic manures from slurry.

The financing scheme of Bangladesh Bank was Tk 1.1 billion  in FY-15 and Tk 1.6 billion in FY-16; and Tk 200 million on organic manures from slurry. Private Commercial banks, Foreign Commercial banks, Non-banking financial institutions, State-owned commercial banks and development finance institutions may promote ˗ sector wise contribution where they emphasize on green-manures production and utilization project.

As Bangladesh is a booming economy and one of the most vulnerable countries due to climate change, context demands environmental and social risk’s management, encouraging employment in green farming, decentralizing the capacities of fundamental agro-technology, upgrading governance in development sectors. In this Context, utilization of green-manures instead of agro-chemicals is eco-friendly for Bangladesh.

Government of Bangladesh needs to be compassionate towards the masses and sensitive to the cost extracted by development on our natural environment. Sustainable agriculture and nutrient-oriented food security are great challenge of government. We have to take undertake bold steps for production, marketing and utilization of green-manures by participatory financial institutions; Promoting eco-friendly agriculture/impacts of agro-chemicals/pollination security awareness among Farmers; Financial institutions/banks should be encouraged to allocate more funds in green-manure projects; Encouraging rural women entrepreneurs on green-manures production and utilization.

Writer is an Environmental Analyst & Associate Member, Bangladesh Economic Association

  • Financing for cleaner, greener growth
  • Issue 29
  • Shishir Reza
  • Vol 35
  • DhakaCourier

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