The World Bank's investment agency IFC wants to invest more
in Bangladesh. Over the next five years, the company will invest USD 500 Crore, which is Tk 43,100 crore in
domestic currency. The IFC is considering investing in light engineering,
economic zones, financial and capital markets, and sustainable infrastructure
to support growth.
A top official of the company said that they are planning to double the investment in Bangladesh in the next five years. He said the investment would be made to create new jobs, accelerate sustainable recovery and encourage environmentally friendly activities.
Hector Gomez Ang, IFC's Regional Director for South Asia, arrived in Bangladesh on a five-day visit. During the visit, he met with senior government officials, representatives of the private sector, research institutes, potential buyers and partners. Gomez Ang was accompanied by IFC Country Manager for Bangladesh, Bhutan and Nepal Martin Holtman and IFC industry experts.
After a meeting with the Bangladesh Investment Development Authority (BIDA), Hector Gomez Ang said Bangladesh needs to attract more foreign investment to meet the target. According to him, Bangladesh will face challenges after getting out of the list of least developed countries or passing LDC. To meet this challenge, Bangladesh needs to attract foreign investment as well as borrow foreign trade, which is not an option for sustainable development.
Hector Gomez added, "Our discussions with the Bangladesh government have been fruitful and we are expected to work more closely in the future."
In the last few years, IFC has played a major role in the development of the private sector in Bangladesh.
|Source: Online/SZK
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