The Islamic Development Bank (IsDB) has expressed its interest to collaborate with Public Private Partnership Authority (PPPA) in developing and implementing PPP projects in Bangladesh.
The IsDB made the disclosure at a virtual meeting with the PPPA on Thursday, saying it is keen to increase its portfolio in Bangladesh by financially supporting infrastructure projects, said a media release.
Sultana Afroz, the chief executive officer (secretary) of PPP Authority under the Prime Minister's Office, said Bangladesh has evolved into an investment destination under the able leadership of Prime Minister Sheikh Hasina.
In addition to financing PPP infrastructures, the bank, she said, 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 including 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.
Sulaiman Nassis, regional manager of the bank, said that the IsDB 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.
On the occasion, Noman Siddiqui, Manager PPP of IsDB, gave an overview of IsDB supported PPP activities in Bangladesh.
The bank is financing Bhola and Summit Bibiyana power plants. Noman said they are ready to increase their portfolio in Bangladesh by financing quality infrastructure projects well-structured for PPP concessions. IsDB is also committed to support capacity building through PPP advisory services by hosting workshops, seminars and project preparation assistance.
Bangladesh has built a PPP project pipeline of 79 projects with an investment value of more than US$29 Billion to realize the government's vision of bringing about a transformational change to its infrastructure sector.
IsDB would be given the opportunity to review the projects and select any one or more of them for financing.