ADB, WB willing to expand Bangladesh private sector investment

The Asian Development Bank (ADB) and the World Bank (WB) have expressed interest in increasing investments in Bangladesh's private sector.
ADB, a Manila-based lender, hosted a Business Opportunities Seminar (BOS) in Dhaka on Wednesday to highlight business opportunities arising from projects financed by it and the World Bank.
The event brought together over 800 representatives from government agencies, development partners, private sector, contractors, consultants, suppliers, and financial institutions to foster collaboration and enhance participation in development projects.
It provided a platform to share information on the upcoming investment programmes, procurement opportunities, and private sector operations.
ADB President Masato Kanda recently announced the lender's private sector operations had more than doubled since 2022, and it was stepping up efforts to increase total financing for private investment four-fold to $13.0 billion annually by 2030.
According to the ADB, Bangladesh needs a total investment of $142 billion from both private and public sectors in its infrastructure and economy.
However, it has an investment gap of $64 billion.
At the BOS, ADB Deputy Country Director for Bangladesh Akira Matsunaga said they were committed to supporting efforts to strengthen the power and energy sector, modernise transport and logistics networks, improve regional connectivity, enhance climate resilience, strengthen institutions and governance, attract greater private sector investment, and create quality jobs for the people.
"We recognise that achieving these objectives requires not only financing but also strong implementation capacity and meaningful engagement with the private sector," he added.
SM Moin Uddin Ahmed, CEO of Bangladesh Public Procurement Authority; Sangita Ahmed, senior vice president at Bangladesh Women Chamber of Commerce and Industry; Jean Pesme, division director for Bangladesh and Bhutan at World Bank; and SM Jakaria Huq, additional secretary and ADB wing chief at the Economic Relations Division (ERD); addressed the seminar, among others.
The World Bank's Pesme highlighted the importance of collaboration among development partners, government institutions, and the private sector to support Bangladesh's next phase of development.
Jakaria of the ERD reaffirmed the government's commitment to transparency, fair competition, and effective implementation of development-financed projects.
The BOS served as a valuable platform for networking and knowledge sharing among stakeholders, helping participants better understand upcoming opportunities and how to engage effectively in development-financed projects.
ADB reaffirmed its commitment to supporting private sector participation and strengthening partnerships that contribute to Bangladesh's sustainable, inclusive, and resilient development.

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