Dhaka, Bangladesh (BBN)– The World Bank has scaled up its support for the Investment Promotion and Financing Facility project’s (IPFF) for infrastructure development and diversification through leveraging private recourses.
The project also helps to build the capacity of the local financial sector for longer term financing to the much needed private-public partnership ventures in infrastructure.
The project is working in close collaboration with PPP Office and relevant line ministries to develop a pipeline of projects belonging to diversified sectors. The PPP Office, fully operational from January 2012, is taking the lead in developing the pipeline.
The PPP Office is in the process of finalizing an initial list of projects for feasibility study for selection of projects to be implemented through public private partnership.
The project will also provide technical assistance for identifying PPP Projects starting from the feasibility stage, transactions advisory and tendering to investment support, to increase project eligibility and impart good practices in project development in Bangladesh.
Support from incubation stage of the project aims at ensuring quality and efficiency, in terms of technical standards and pricing at the beneficiary stage as these projects will be important in the long term to provide public good and public service delivery.
“Successful private-public partnership (PPP) for infrastructure development in diversified field is crucial for stimulating economic development and growth,” the World Bank said in an information note on Tuesday.
The financial Institutions can apply for the IPFF fund through Bangladesh Bank for financing infrastructure projects.
The $257 million project is implemented by Bangladesh Bank. $250 million is dedicated for on-lending to participating financial institutions and USD 7 million for strengthening PPP framework and the PPP Office, created as per PPP Guidelines 2010.
BBN/SSR/SI-19June12-10:27 am (BST)