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BIFFL, BlueMount Capital sign deal to secure int'l finance

November 13, 2018 00:00:00


Bangladesh Infrastructure Finance Fund Limited (BIFFL) has signed a memorandum of understanding (MoU) with BlueMount Capital, an Australian-headquartered corporate finance house, to collaborate on international financing of infrastructure and green projects in Bangladesh.

Under the MoU, BlueMount Capital will work with the BIFFL, one of Bangladesh's major government-owned non-banking financial institutions focused largely on infrastructure projects, on corporate and commercial investment and financing channels, said a statement.

The parties will cooperate to secure support from the Bangladesh government for guarantees and appropriate incentives, in applicable cases, to attract international investment.

Bangladesh's GDP has grown at a rate of 7 per cent per annum for the past 10 years and the country has enormous infrastructure financing requirement to meet its goal of becoming a middle-income country by 2021 and achieving Sustainable Development Goals (SDG) by 2030.

BIFFL has already financed 40 projects in Bangladesh and have a robust project pipeline at different stages of development.

Traditionally, Bangladesh utilises soft-loan funds from the Asian Development Bank, the World Bank and similar international financing institutions.

"We are pleased with this initiative to broaden our inbound investment channels with an international corporate finance house such as BlueMount Capital," said Executive Director and CEO of BIFFL S.M. Formanul Islam.

"We have more than US$ 2.0 billion of investment and financing opportunities for infrastructure and energy projects," he said.

BlueMount Capital Chairman Dr Saliba Sassine said the group is looking forward to working closely with BIFFL and to promoting investment opportunities to international investment houses focused on emerging markets or energy and infrastructure opportunities.

BIFFL and BlueMount aim to action their efforts in early 2019 with a selection of opportunities.


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