FE Report | August 19, 2020
The Asian Development Bank (ADB) will provide US$50 million loan to Bangladesh for bankrolling some public-private partnership (PPP) infrastructure projects.
The board of the Manila-based lender on Tuesday approved the loan for Bangladesh, said the ADB Manila office.
The assistance will help implement PPP infrastructure subprojects developed by the government agencies.
The financial intermediary loan will strengthen the capacity of the Bangladesh Infrastructure Finance Fund Limited (BIFFL), which has been established by the government to provide long-term local-currency debt financing to infrastructure projects.
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The ADB has been a longstanding partner to support BIFFL to promote PPP programme and develop its pipeline of projects.
It has also assisted the government develop the PPP Act and an institutional framework for PPPs in addition to supporting priority sectors of Bangladesh as a transaction advisor, the ADB claimed.
The ADB further said it will provide $650,000 technical assistance as grant from ADB’s Financial Sector Development Partnership Special Fund to support BIFFL for reviewing and updating corporate strategy, as well as assessing and improving the capacity to manage environmental and social safeguards, and project implementation.
“The assistance will help strengthen government capacity to develop PPP infrastructure projects and catalyze greater private sector infrastructure investments,” said ADB Principal Financial Sector Specialist Dongdong Zhang.
He said: “As the country starts to recover from the severe impacts of the coronavirus disease (COVID-19) pandemic, PPP will emerge as an important tool to leverage private sector resources to develop infrastructure and create jobs.”
