Chevron BD initiates $10m Economic Dev Initiative

Chevron Bangladesh (Chevron Bangladesh Block Twelve, Ltd, and Chevron Bangladesh Blocks Thirteen and Fourteen, Ltd) announced Tuesday a US$10 million commitment to create the Bangladesh Partnership Initiative (BPI), a five-year programme to support economic development for communities in the Greater Sylhet region.  

Chevron's BPI commitment represents one of the largest corporate social investments for Bangladesh, said a news release.

Over the next five years, the BPI will work with local NGOs and international development organisations to assess local needs and establish enterprises and workforce development programmes, it said.

The objective of these programmes will be to promote economic stability, job creation and accelerate sustainable growth in local communities where Chevron operates.

"The sustainable economic development of our communities is a core focus area for Chevron's social investment programme. The goal of the Bangladesh Partnership Initiative will be to measurably improve the economic outlook in the communities where we operate over the next five years and into the future," said Geoff Strong, president, Chevron Bangladesh.