Australian High Commission, IFC to mobilise $50m to support post-pandemic growth in Bangladesh

The International Finance Corporation (IFC) and the Australian High Commission in Dhaka have partnered together on a new project to help create more opportunities for inclusive and sustainable private investment flows in Bangladesh.
The project, named 'Bangladesh Economic Engagement Program-Private Sector Development Partnership (BEEP-PSDP)', is planning to mobilise over $50 million of investment support for emerging needs in key growth sectors following the Covid pandemic and promote economic growth, resilience, and inclusivity, according to a press statement on Thursday.
The collaboration aligns with Bangladesh's development plans and the partners' strategic priorities, with a focus on revitalising the private sector and facilitating a sustainable recovery from the Covid pandemic.
"This project will build upon our strong track record in Bangladesh, while adapting to the new requirements that have arisen since the COVID-19 pandemic," said Martin Holtmann, IFC Country Manager for Bangladesh, Bhutan, and Nepal.
"We are excited about the opportunities this project will generate for enhancing the business environment and encouraging financial access and inclusion, particularly for women."
Bangladesh aims to become an upper-middle-income nation by 2031 and recognises the necessity of private sector creativity, technology education, and foreign direct investment (FDI).

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