The Islamic Development Bank (IsDB) wants to collaborate with Public Private Partnership Authority (PPPA) in developing and implementing PPP projects in Bangladesh.
The bank is also keen on increasing its portfolio in Bangladesh by financially supporting infrastructure projects.The interest came through an online meeting recently, says a press release.
Sulaiman Nassis, Regional Manager, Regional Hub of Dhaka, IsDB, said that the bank is actively engaged with sponsors and development partners in a number of its member countries to support various infrastructure projects that are in various stages of readiness for procurement under the public private partnership modality.
The bank is financing Bhola and Summit Bibiyana power plants. Manager of PPP project, IsDB, Noman Siddiqui gave an overview of IsDB supported PPP activities in Bangladesh. Noman said that they were ready to increae their portfolio in Bangaldesh by financing quality infrastructure rojects well-structured for PPP concessions.
IsDB is committed to supporting capacity building through PPP advisory services by hosting workshops, seminars and project preparation assistance, he added.
Chief Executive Officer PPP Authority of Bangladesh Sultana Afroz said: “Bangladesh has evolved into an investment destination under the dynamic leadership of Prime Minister Sheikh Hasina.”
Besides financing PPP infrastructures, IsDB can play a vital role as transaction advisor for PPP projects in Bangladesh and can also work with PPPA for both upstream and downstream collaboration," she expected.Upstream and downstream collaboration include capacity building for ministries, government agencies and PPPA officials, developing effective tools like formulating model contracts for specific sectors, introducing ICT based tools for project management, and drafting guidelines and procedures for the authority, said Sultana Afroz.
Bangladesh has built a PPP project pipeline of 79 projects with an investment value of more than $29 billion to realise the government’s vision of bringing about a transformational change to its infrastructure sector. IsDB will be given the opportunity to review the projects and select any one or more of them for financing.
The meeting ended with strong recommendation and agreement by both PPPA and IsDB for signing a Memorandum of Understanding (MoU) between PPPA and IsDB as the next step for undertaking the activities suggested in the meeting.