Muhith seeks IFC coop in securing more FDI

Finance Minister AMA Muhith has sought cooperation of the International Finance Corporation (IFC) to increase the flow of foreign direct investment (FDI) in the country, reports UNB.

"We need all kinds of assistance in all sectors in both public and private sectors. We need deeper engagement of IFC," he said while addressing a workshop on 'Investment Process and IFC Strategy for 2017-21' at Sonargaon Hotel in the city on Monday.

IFC, the World Bank's private lending wing, and Economic Relations Division (ERD) jointly organised the workshop to provide understanding about the work procedures, and also product and services of the multilateral funding agency.

With ERD secretary Kazi Shofiqul Azam in the chair, the workshop was also addressed by Wendy Werner, IFC country manager for Bangladesh, Bhutan and Nepal and Mengistu Alemayehu, South Asia regional director of the funding agency.

Bangladesh Investment Development Authority (BIDA) executive chairman Kazi Aminul Islam was also present at the function.

Muhith said the country has just started getting some FDI and at this very complex period, "we need assistance in bigger way from IFC."

"We think the private sector should be assisted by the banks and financing agencies. That's why we developed relationship with IFC", he said.

He mentioned that as a nation Bangladesh is committed to welfare of the country. "Since we are committed, we need all kinds of assistance for welfare of the country".

In the presentation, it was said that the IFC is expecting to extend its support in debt and equity finance to 4,343 MW base power supply and also the first liquefied natural gas (LNG) project.