Dhaka, June 27 -- The World Bank approved USD 1.1 billion for two projects to help Bangladesh mitigate the price and supply volatility in the global fertiliser and fuel markets, sustain food security, and enable rapid response.

"Rising food, fertiliser, and fuel prices stemming from the Middle East Conflict, along with tighter fiscal space, have deeply impacted Bangladesh's economy, hitting smallholder farmers as well as poor and vulnerable people the hardest," said Jean Pesme, World Bank Division Director for Bangladesh and Bhutan.

"The World Bank has stepped up with immediate support to help Bangladesh mitigate this impact to ensure fertiliser supply for rice production, protect households, jobs and livelihoods and continue with essen...