Infrastructure Development Company Limited (IDCOL) has been conferred the prestigious "IJGlobal Awards 2021" in the "Public Sector Institution" category.
The award was announced by IJGlobal, a part of the Euromoney Institutional Investor business, which provides access to data, news, insights and analysis on project finance and infrastructure, according to a press release issued on Friday (22 July).
Held annually, the IJGlobal Awards recognise outstanding transactions and institutions from around the world of energy and infrastructure.
IDCOL was selected based on its innovation, resilience to the pandemic and tangible achievements in its initiatives in 2021.
The judging panel highlighted IDCOL's prominent role in supporting Bangladesh's agenda of achieving a low-carbon and climate-resilient economy, and in expanding PPP coverage to the infrastructure sector with its financing and advisory services, read the release.
IDCOL was specifically highlighted for its contributions towards the "Mujib Climate Prosperity Plan: Decade 2030", a strategy paper named after the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, which is expected to catalyze a paradigm shift in Bangladesh's energy planning by boosting renewable energy share into the overall electricity generation mix.
Another achievement highlighted by the judging panel was IDCOL's receipt of US$ 256 million from Green Climate Fund (GCF), the first private sector financing from the GCF in Bangladesh and to the date of approval, the largest funding proposal sanctioned for any Direct Access Entity of the GCF accredited globally.
Alamgir Morshed, CEO, IDCOL said that this award is recognition of IDCOL's relentless effort to promote, finance and engage the private sector in infrastructure, renewable energy and energy efficiency projects to ensure sustainable and inclusive growth of Bangladesh." IDCOL is an unique example of PPP run by professional management under strong and dynamic leadership of its board members which comprises senior Government officials and leading private sector entrepreneurs.
The judging panel of the award for Asia-Pacific region included senior representatives from HSBC Asset Management, Deutsche Bank, Standard Chartered, Fitch Ratings, Allen & Overy etc. Other notable winners of this esteemed award are Citi, Asian Development Bank, Moody's, EY, Deutsche Bank, SMBC, Linklaters and BDO.
His Excellency Md Tauhedul Islam, ndc, High Commissioner of Bangladesh to Singapore has received the award on behalf of IDCOL in a ceremony held in Singapore on 20th July 2022.