Bangladesh
Post-Covid Growth Australia, IFC to raise $50m for post-Covid growth in Bangladesh
Dhaka, June 23: IFC and the Australian High Commission in Dhaka have partnered on a new project to help create more opportunities for inclusive and sustainable private investment flows into Bangladesh.
The Bangladesh Economic Engagement Program-Private Sector Development Partnership (BEEP-PSDP) project will support emerging demand after the Covid-19 pandemic and invest more than US$50 million in key growth sectors to promote economic growth, resilience and inclusion, a press release issued in Dhaka on Friday said. will promote
This collaboration will revitalize the private sector in line with Bangladesh's development plans and partners' strategic priorities and focus on facilitating a sustainable recovery from the Covid-19 pandemic.
Jeremy Brewer, Australian High Commissioner to Dhaka, said at the event, 'This partnership highlights our commitment to supporting economic policies, strengthening institutions and developing an inclusive private sector in Bangladesh. He said that by working together, a sustainable and equitable recovery from the impact of Covid-19 is possible.
Martin Holtman, IFC Country Manager for Bangladesh, Bhutan and Nepal, said, 'This project will build on our strong track record in Bangladesh while adapting to the new requirements that have arisen in the wake of the Covid-19 pandemic.
The BEEP-PSDP project is expected to run from 2023 to 2027. It aims to improve competitiveness and diversity, increase access and inclusion, and promote sustainability and resilience in key economic sectors such as power, agribusiness and housing.
