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Kamal urges IFC to support pvt sector dev in Bangladesh

Published : Monday, 18 October, 2021 at 10:54 PM  Count : 321

Kamal urges IFC to support pvt sector dev in Bangladesh

Kamal urges IFC to support pvt sector dev in Bangladesh

Finance Minister AHM Mustafa Kamal on Monday urged the International Finance Corporation (IFC) to support private sector development in Bangladesh through extending soft-term loans in sectors like onshore Taka bond and Public Private Partnership (PPP) initiative.

Kamal also called upon the IFC to extend necessary technical assistance to attract more investment through PPP as Bangladesh aspires to become a middle-income country by 2031 and a developed country by 2041.

The finance minister made the call at a virtual meeting between Bangladesh delegation and the IFC delegation on the sidelines of the World Bank IMF Annual Meetings 2021.

Kamal led the Bangladesh delegation while IFC managing director Makhter Diop led the IFC delegation.

Alternate executive director of Bangladesh to the World Bank Mohammad Shafiul Alam, Finance Division Senior Secretary Abdur Rouf Talukder, ERD Secretary Fatima Yasmin and other high officials of the government and the Bangladesh Bank attended the meeting, among others, said a Finance Ministry press release.

During the meeting, Kamal sought increased investment from IFC into the private sector of Bangladesh.

In response, the IFC delegation assured the Finance Minister of strengthening further their relationship with Bangladesh.

The release said the meeting discussed the issue of issuing Taka Bond in the capital market of Bangladesh, overall reforms of the financial sector, county strategy of IFC and drawing investment through PPP.

The finance minister thanked the IFC for issuing "Bangla Bond" at London stock exchange in 2019.

Kamal also extended thanks to IFC for extending support to the private sector of Bangladesh especially to banks, various production- oriented sectors and to the new entrepreneurs for providing support during the COVID-19 pandemic.

He also highlighted various steps taken by the government to offset the shock of the pandemic and also the matter of attaining positive GDP growth by Bangladesh despite the global economic slowdown.


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