Brics-led NDB to provide $1 billion funding support to Bangladesh in next one year: Bida chief
Speaking to reporters on the second day of the Investment Summit, he said NDB had already invested about $300 million
The Brics-led New Development Bank (NDB) will provide $ 1 billion funding support to Bangladesh in the next one year, BIDA and BEZA Executive Chairman Chowdhury Ashik Mahmud Bin Harun said today (8 April).
Speaking to reporters on the second day of the Investment Summit, he said NDB had already invested about $300 million.
The New Development Bank (NDB), formerly referred to as the Brics Development Bank, is a multilateral development bank established by the Brics states (Brazil, Russia, India, China, and South Africa).
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According to the Agreement on the NDB, "the Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments."
Ashik said, "Today, the [NDB] vice president met with the chief advisor. He said their perception of Bangladesh is very positive. Recently, they have started a project with WASA.
"They want to provide funds not only to the government but also to the private sector. We have also tried to convince them that they have the opportunity to provide funds to social infrastructure including hospitals and housing."
Speaking at a press briefing, he also said foreign investors visiting Bangladesh's Export Processing Zones (EPZs) and Economic Zones (EZs) have inquired about the government's plans to tackle bureaucratic red tape that could hinder business operations.
He stated that international delegates are keen to understand what specific support the government can offer if they choose to invest and do business in Bangladesh.
"They asked us what facilities or advantages the government could provide for doing business here," said the Bida executive chairman.
He also said, "There is no market in the world without challenges. Every country has its own set of problems. We are aware of the existing issues and are working to resolve them. Our goal is to address these challenges within the next one to two years."
Responding to a question about US tariffs, Ashik said it is not a problem exclusive to Bangladesh. "Tariffs are a global issue. The entire world is currently facing this challenge."
He added that the chief adviser's recent letter regarding tariffs has been made public.
