Friday, 12 August, 2022

Bangladesh launches action plan for impact investment

  • Staff Correspondent
  • 3 August, 2022 12:00 AM
  • Print news
Bangladesh launches action plan for impact investment

The government launched Bangladesh Impact Investment Strategy and Action Plan (BIISAP) to generate positive funding against measurable social and environmental impacts alongside a financial return.

Planning Minister MA Mannan unveiled the plan at the "Impact InveStory" conference at Bangladesh Investment Development Authority (BIDA) premises in Dhaka on Tuesday. BIDA executive chairman and National Advisory Board (NAB) chief Sirazul Islam presided over the session.

The daylong conference highlighted the implementation plan of the BIISAP while sharing impact investment stories from across the globe and the local champions.

In his speech, MA Mannan said that Prime Minister Sheikh Hasina launched the first Impact Investment campaign for Bangladesh during the UN assembly in 2017.

Prime Minister’s Advisor on Private Industry and Investment Salman F Rahman and Bangladesh Securities Exchange Commission (BSEC) chairman Shibli Rubayat-Ul-Islam were present as special guests on the occasion.

United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) chief of technology and innovation Jonathan Wong,  Ambassador of Switzerland Nathalie Chuard, Ambassador of Turkey Mustafa Osman Turan, President of Investment Advisory Board of Turkey Safak Muderrisgil and BRAC Executive Director Asif Saleh attended the conference as guests on honour.

Speakers laid emphasis on proactive actions by the government to enable both local and global impact investors to invest in Bangladesh.

In his speech, BIDA execution chairman and NAB chief Sirazul Islam acknowledged the contributions made by the Embassy of Switzerland "from day one of this movement, not only as a member of the national advisory board but also contributing to develop the action plan."

Expressing Switzerland’s support to ensure an effective implementation of BIISAP, Ambassador Chuard said that her country is implementing the B-Briddhi programme that assists high-potential impact enterprises in securing funding and scaling their operations.

Sir Ronald Cohen and Cliff Prior from the Global Steering Group (GSG) for Impact Investment praised the dynamic progress of the impact investment ecosystem building activities in Bangladesh.

BRAC executive director Asif Saleh highlighted the contributions made by the private sector including the not-for-profit sectors to facilitate the Impact investment movements in Bangladesh. The BIISAP is based on research and feedback from stakeholders across the Bangladesh impact investing ecosystem. Fifteen in-depth interviews and workshops consisting of 35 stakeholders were conducted, reflecting the views of impact entrepreneurs, impact investors, impact accelerators and incubators, policymakers, and ecosystem intermediaries.

The BIISAP has identified nine strategic recommendations under five priority intervention areas as the starting points for the impact investment ecosystem building process.