BB wants to invest in mega projects: Atiur

Bangladesh Bank (BB) Governor Dr Atiur Rahman on Saturday said the central bank is fully prepared to invest in mega projects, including Padma Bridge, from its reserves to expedite country's infrastructural development.
"If anyone comes up with the investment plan of $7-8 billion for country's infrastructural development, the BB would provide the fund from its reserves," he said while unveiling its Strategic Plan 2015-2019 at a ceremony at BBTA auditorium.
Now, the BB has $26 billion of forex reserves.
Elaborating the plan of using forex from the reserves, BB Deputy Governor S K Sur Chowdhury said they will be able to meet the import costs of seven months by the existing reserves though international practice recommends to keep reserves for the import expenses of three months.
"So, the idle reserves could be used to any kind of mega project especially for infrastructural development, and BB is ready to provide the fund with the rate of 1.5-2 percent interest," he added.
Speaking on the Strategic Plan 2015-2019, Atiur Rahman said BB has formulated the five-year plan to ensure inclusive growth and price stability.
"We've adopted 14 strategies in general, and to implement the strategies a total of 105 goals and 320 mid and long term work plans have been taken," he added.
All the departments and offices of the central bank will prepare their operational plan on the basis of the Strategic Plan.
-SS