Dhaka, Bangladesh (BBN) - A Memorandum of Understating (MoU) was signed between two state-owned agencies, Infrastructure Development Company Limited (IDCOL) and Bangladesh Infrastructure Finance Fund Limited (BIFFL) on Wednesday.
Under the deal, the state-backed infrastructure lender will provide investment advisory services to BIFFL and conduct financial, technical, legal, and environmental due diligences of infrastructure projects to be considered for financing by BIFFL, a statement said.
The BIFFL was established as a Non-Bank Financial Institution (NBFI) in 2011 by the Government of Bangladesh (GoB) with Authorised Capital of BDT 100 billion and Paid-up Capital of Tk 16 billion for financing infrastructure projects implemented through Public-Private Partnership (PPP) mechanisms.
Established in 1997 IDCOL has extensive expertise in carrying out investment appraisal of large infrastructure projects and invested BDT 36 billion in PPP projects including power generation, telecom and ICT, renewable energy sector and other infrastructure projects.
BBN/SSR/AD-03Jan13-10:15 am (BST)
