France is set to formulate its country strategy for Bangladesh aiming to identify the priority sectors of investment for next five years, a senior official has said.
The AFD, a French public development finance institution and a bilateral agency, is planning to prepare its 'Country Strategy 2016 for Bangladesh' to identify their priority sectors in line with the plans and priorities of Bangladesh for the next five years, he added.
In this connection, he said, a high-level consultation meeting between the government of Bangladesh and the French Development Agency (AFD) will be held in Dhaka in May.
The aim of the meeting is to discuss and review the relevant sectors of Bangladesh where the AFD could concentrate their efforts based on their mandate and financial instrument. It is also aimed at reviewing the ongoing projects and sharing experience on the progress, he mentioned.
"The AFD has been making investment in different projects for three years in Bangladesh. After three-year successful operations in the country, the French Development Agency wants to formulate in 2016 its country strategy to identify what shall be its priority sectors, matching with your needs and its investment criteria, over the next five years," An ERD (Economic Relations Division) high official told the FE on Thursday.
"With the signing of credit facility agreements of DESWSP (Dhaka Environmentally Sustainable Water Supply Project) and PSEEIIP (Power System Expansion and Efficiency Improvement Investment Program) projects, the grant agreement for technical assistance to DTCA (Dhaka Transport Coordination Authority) and the amendment related to GDSUTP (Greater Dhaka Sustainable Urban Transport Project) project, AFD evidence in 2015 its wiliness to establish in Bangladesh for long term, with an already signed portfolio of Euro 190 million," according to an AFD letter.
It added: "2016 should allow us to strengthen again our collaboration through the signatures of the grant agreement for the 'Development of DWASA activities in LIC localities including capacity building and financial modelling' the CFA of the DESWSP II project (Saidabad WTP phase II) and the credit facility program to finance environment and safety retrofits in the RMG sector for and additional EUR 175 million."
Through these projects, the AFD highlighted its interest for the following key areas, in accordance with its mandate of supporting green and inclusive growth: urban development (including water, sanitation, mass transport and other services), green energy and promotion of corporate social responsibility, another high official of European Wing of ERD said.
"A consultation meeting between Bangladesh and AFD will be held in May next where issues relating to future investment plan for Bangladesh will come up for discussion," Additional Secretary and European Wing Chief Abul Mansur Md. Faizullah told the FE on Friday.
The consultation meeting is likely to be held on May 17-18, 2016. Besides, a preparatory meeting will be held on March 21 or 22 next to finalise the agenda for the consultation meeting.
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