IFC expresses interest in financing Chattogram's infrastructure development

The International Finance Corporation (IFC), a member of the World Bank Group, has shown keen interest in financing various development projects in Chattogram. 

An IFC delegation expressed this interest during a courtesy meeting with Chattogram City Corporation (CCC) Mayor M Rezaul Karim Chowdhury held at the corporation office on Thursday (30 May).

The three-member IFC delegation was led by Michael Lin Sheng, Principal Investment Officer, and accompanied by Consultant M Emdadul Haque, and Operations Officer Saif Tanzim Qaium. 

During the meeting, the delegation discussed potential investment opportunities in the rapidly expanding city, said a press release.

At the meeting, Mayor Rezaul Karim Chowdhury highlighted the urgent need for investment in Chattogram's housing sector, given the city's rapid population growth. 

He proposed that IFC could invest in creating new 'smart cities' within Chattogram, which would offer comprehensive civic services, including education and healthcare. 

Additionally, he suggested that IFC could build an international standard convention center and invest in essential infrastructure such as public transport, drainage, and waste management.

Responding to the mayor's proposals, the IFC delegation expressed their interest in investing in Chattogram through the Public-Private Partnership (PPP) model. 

They emphasised their willingness to finance infrastructure projects in Chattogram, subject to further discussions with the city corporation.

Several key officials from the city corporation attended the meeting, including Secretary Ashraful Amin, Private Secretary to the Mayor Abul Hashem, Chief Accounts Officer Humayun Kabir, and Chief Engineer Shaheen-ul-Islam.

The meeting marks a significant step towards potential collaboration between IFC and Chattogram City Corporation, aiming to accelerate the development of Chattogram and enhance the quality of life for its residents.