WB to support infrastructure development under IPFF

FE Report | Published: August 04, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

The World Bank has developed a pipeline of sub-projects in diverse sectors to provide its financial support at low interest rate through Investment Promotion and Financing Facility (IPFF) Project.
The project is aimed at promoting private sector participation in infrastructure development of the country.
The pipeline includes financing a fiber optic cable network expansion sub-project across the country, partial debt-financing for a 195 MW gas-fired power plant at Ashugonj, setting up a dry dock facility near Chittagong Port, and another 55 MW power-plant at Manikganj which are expected to commence during 2015, said a WB update on IPFF following a project review mission.
The update issued Sunday said so far $129 million has been disbursed, and during the current phase, the IPFF has provided financing for a 55 MW power plant at Nawabganj, an inland container depot at Chittagong and two water treatment plants.
It said the project became effective in August 2006 with initial World Bank funding of $50 million and received additional financing of $257 million in Sept 2010.
The project was restructured in February 2014 when the interest rate was revised downward from the existing market rates,
The World Bank supported Investment Promotion and Financing Facility (IPFF) Project promotes private sector participation in infrastructure development by supplementing long term financing resources beyond the capacity of local financial institutions.
The project provides partial debt financing through the Bangladesh Bank to participating financial institutions (PFIs). The aim is to attract private sector entrepreneurs for infrastructure projects developed through public-private partnerships (PPP).
The IPFF also supports strengthening of the Public Private Partnership (PPP) Office and provides technical support for infrastructure project preparation. The PPP Office of the Government is actively working to develop a solid medium and long term infrastructure pipeline. Under the TA component of the IPFF, two overseas training programmes and a series of five PPP training workshops have been organized for PPP focal points from different ministries of government to develop PPP capacity.