NN Online:
BIDA and BEZA Executive Chairman Chowdhury Ashik Mahmud Bin Harun on Tuesday said the Brics-led New Development Bank (NDB) is set to provide $1 billion in funding support to Bangladesh over the next year.
He made this announcement while speaking to reporters on the second day of the Investment Summit, saying “The New Development Bank (NDB) had already invested about $300 million.”
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).
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 adviser. 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 said 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 further mentioned that, “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.
