AKIJ Shipping signs IFC deal to drive sustainable maritime growth
AKIJ Shipping, a subsidiary of leading industrial conglomerate AKIJ Resource, has signed a mandate agreement with the International Finance Corporation (IFC) for a proposed loan package of up to $80 million to support sustainable fleet expansion and modernisation. The strategic collaboration is set to bolster Bangladesh's maritime infrastructure, reduce dependence on foreign-owned vessels, and fast-track decarbonisation in the shipping sector.
"This partnership with IFC marks a pivotal moment for us as we work to strengthen national shipping capabilities while staying aligned with global sustainability standards," said Sheikh Jasim Uddin, Managing Director of AKIJ Resource. "It reaffirms our commitment to responsible growth, innovation, and Bangladesh's long-term trade resilience."
Founded on the legacy of the late Sheikh Akijuddin, AKIJ Resource stands among Bangladesh's most diversified conglomerates, with operations spanning cement, steel, food, logistics, IT, and shipping. With 16 state-of-the-art manufacturing units and a workforce exceeding 6,000, the Group continues to drive inclusive economic growth through innovation and sustainability.
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IFC, a member of the World Bank Group, is the largest global development institution focused on advancing sustainable private sector investment in emerging markets. The partnership with AKIJ Shipping aligns with IFC's regional strategy to strengthen infrastructure and competitiveness across key logistics sectors in South Asia.
"IFC is proud to partner with AKIJ Shipping to modernise its fleet and support sustainable growth in Bangladesh's maritime sector," said Edore Onomakpome, Regional Industry Manager for Infrastructure at IFC. "This initiative will strengthen logistics infrastructure, boost job creation, and promote more efficient and sustainable shipping practices."
In addition to financing, IFC has signed a Collaboration Letter Agreement to support AKIJ Shipping in achieving its sustainability goals. This includes conducting a comprehensive market and technical assessment of Bangladesh's shipping sector, formulating a decarbonisation roadmap for the company's entire fleet, and enhancing environmental, social, and corporate governance (ESG) standards.
AKIJ Shipping currently operates 10 ocean-going dry bulk carriers—representing approximately 14% of Bangladesh's total deadweight tonnage—and 40 lighter vessels. With trade routes spanning Asia and Africa, the company plays a vital role in regional logistics and Bangladesh's import supply chains.
This landmark partnership supports the Government of Bangladesh's broader vision of strengthening domestic shipping capacity and sets a new benchmark for sustainable maritime development in the region.
