B’desh needs $125b to fix infrastructure

Dhaka,  Thu,  21 September 2017
Published : 02 Aug 2017, 22:05:00

B’desh needs $125b to fix infrastructure

FE Report

Bangladesh needs to invest US$125 billion by 2021 to give a boost to its rickety infrastructure, the head of a state-owned financier said on Wednesday.

S. M. Formanul Islam, chief executive officer (CEO) of the Bangladesh Infrastructure Finance Fund Limited (BIFFL) said that infrastructure development is crucial to achieving the country's vision 2021 and 2041.

His comments came at a seminar on "Presentation of activities and consultation on strategic planning," at the the Chittagong Chamber of Commerce & Industry (CCCI), the CCCI said in a statement.

The CCCI president Mahbubul Alam presided over the programme.

The programme was attended, among others, by Vice-President Syed Jamal Ahmed, directors of the CCCI Md. Rokibur Rahman, Anjan Shekhar Das and Hasnat Md. Abu Obida.

The CCCI president said that though Chittagong is the centre of the country's commercial activities, no head office of a financial institution has been set up in the port city.

He urged the BIFFL boss to set up a regional office in the port city to finance different potential sectors of the region.

"I think, considering the lower cost of doing business and opportunities of export-import, investment in the Chittagong region is comparatively profitable," he added.

Formanul Islam pointed out various aspects of their financing at the seminar.

He said the seminar was organised with a view to creating awareness about the need for infrastructure development and financing in the region.

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