The Financial Express

IDB ready to ramp up infrastructure portfolio in Bangladesh

| Updated: January 17, 2021 17:21:48

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IDB ready to ramp up infrastructure portfolio in Bangladesh

The Islamic Development Bank (IDB) has expressed its interest to work with Public Private Partnership Authority (PPPA) in developing and implementing PPP projects in the country.

The interest was shown at a virtual meeting between the state authority and the Islamic lender held on Wednesday.

According to a statement issued on Thursday, the Jeddah-based bank is eager to increase its portfolio in Bangladesh by financing infrastructure projects.

Secretary and chief executive officer of the PPP Authority Sultana Afroza and manager of the bank's Regional Hub of Dhaka, Sulaiman Nassis led their respective sides at the meeting.

At present, the authority has got support from the Asian Development Bank in preparing and providing financial model for the PPP projects.

The agency has a total of 79 PPP projects in its pipeline, which will require US$29 billion in investments aiming to bring the transformative changes in the infrastructure sector.

The IsDB would be given the opportunity to review the projects and select any one or more for financing, the statement said.

The CEO referred to financing PPP infrastructure and said the bank can play the role of a transaction advisor for PPP projects in Bangladesh. Besides it can help build the capacity for the ministries, government agencies and PPP Authority officials, developing effective tools like formulating model contracts for specific sectors, introducing ICT-based instruments for project management and drafting guidelines and procedures for the authority.

The regional manager referred to the IsDB's active engagement with sponsors and development partners in a number of its member countries to support various infrastructure projects and said these projects are in various stages of readiness for procurement under the public-private partnership modality

Manager PPP, IDB, Noman Siddiqui gave an overview of IDB-supported PPP activities in Bangladesh, including Bhola and Summit Bibiyana power plants.

He said that they are ready to increase their portfolio in Bangladesh by financing quality infrastructure projects, well-structured for PPP concessions.

The IsDB is also committed to supporting the capacity building through PPP advisory services by hosting workshops, seminars and project preparation assistance.

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