The New Nation - Internet Edition

UNB, Dhaka

Bangladesh has received only 4 percent of the world investment in infrastructure under public-private partnership (PPP).

Chief Executive Officer of the Infrastructure Investment Facilitation Centre (IIFC) Nazrul Islam disclosed this at a workshop in the city today (Sunday). He, however, did not say in which year the investment took place.

Board of Investment (BoI) and Islamic Development Bank (IDB)'s Islamic Research and Training Institute jointly organized the 5-day training workshop at Hotel Sheraton.

Nazrul Islam also revealed that a total of 224 infrastructure projects were implemented across the world with investments totaling US$ 55 billion.

Of this, he said, neighbouring India received 76 percent, Pakistan 16 percent, while Bangladesh got only 4 percent.

The IIFC chief said the first PPP investment was in the country's power sector in 1997 with the installation of a number of independent power producer (IPP) power plants.

The tariff of one of those power plants is the lowest in the world, he said, adding that now the country needs about US$ 9 billion in power generation and transmission.

Bangladesh mainly received private investment in power and telecommunication infrastructure sectors, he said.

Finance Adviser Dr. Mirza Azizul Islam, who inaugurated the training workshop, said Bangladesh is now in urgent need of PPP investment in the infrastructure sector.

He said demand for investment in infrastructure is rapidly increasing with the GDP growth. "But without the partnership with the private sector, the government cannot alone meet the required demand."

He added: "Government can only play a facilitating role in infrastructure development under the PPP initiative."

To promote PPP projects, the Finance Adviser said Bangladesh government has adopted a private-sector infrastructure guideline policy.

And there is also a high level committee - PICOM - to approve and monitor the PPP infrastructure projects, he added.

FBCCI president Annisul Haq said the public private partnership investment is the appropriate way to overcome severe power and energy crisis that the country has been experiencing.

He said private sector has money and the government has the strength to materialize any infrastructure project.

IDB Training Institute chief coordinator Osman Ahmed said that his bank is committed to promote any human development and infrastructure projects in IDB member countries.