IFC aims to double investments in Bangladesh within next 5 years

Since 2010, IFC has invested over $3.5 billion to help private sector grow in Bangladesh. Over the next five years, IFC has a target of a nearly $5-billion investment programme in diversified sectors such as light engineering, economic zones, financial and capital markets, and growth-enabling sustainable infrastructure.

Gomez Ang met senior government officials, private sector representatives, think tanks, potential new clients and other key stakeholders.

Energy and energy transmission as well as infrastructure to improve the quality of healthcare in Bangladesh, in the wake of COVID 19 impacts, and the need for affordable housing were among the areas singled out by Gomez Ang as targets for investment, according to an IFC press release.

"IFC promotes energy diversification and already supports more than 20 percent of the private power generation in Bangladesh. We are looking to do more in terms of the energy mix and transmission, and also to explore new opportunities in healthcare, education, climate and economic zones, and green, affordable housing," Gomez Ang said.

He stressed on the need for Bangladesh to spur more foreign direct investment to help the country realise its ambitions.

"During the first 18 months of the pandemic, we have invested $470 million to help businesses and sustain jobs," said Martin Holtmann, IFC's recently appointed country manager for Bangladesh, Bhutan and Nepal.

"These investments are helping keep businesses afloat, resume exports, and preserve jobs. We intend to invest another further $250 million during the current fiscal year ending in June 2022," he added.

Fibre2Fashion News Desk (DS)