Infrastructure Investment Facilitation Company
The Infrastructure Investment Facilitation Company (IIFC) (Bengali: অবকাঠামো বিনিয়োগ সুবিধা সংস্থা) is a Bangladesh government company that acts as an advisory body under the Economic Relations Division of the Ministry of Finance.[1] Md. Shahriar Kader Siddiky is the chairperson and AKM Fazlul Haque is the managing director of the company.[2][3]
 | |
| Formation | 1999 |
|---|---|
| Headquarters | Dhaka, Bangladesh |
Region served | Bangladesh |
Official language | Bengali |
| Website | www |
History
editInfrastructure Investment Facilitation Company was established in 1999 under the Companies Act of 1994. The purpose of the IIFC is to encourage and support public-private partnership (3P) in Bangladesh.[2] The company provides consultancy services to public agencies and projects regarding the development of infrastructure to encourage private investments.[4]
In 2004, M Saifur Rahman, Minister of Finance and Planning, criticized the Infrastructure Development Company Limited and Infrastructure Investment Facilitation Center for failing to properly encourage investment.[5] It signed an agreement with Power Grid Company of Bangladesh to lease out the fiber optic cable from Chittagong to Dhaka.[6]
According to a 2008 study, the IIFC suffered from a lack of formal or informal power, and so was involved in less than half of the 3P projects developed in the country.[7]
In 2010, the Infrastructure Investment Facilitation Company was hired by Bangladesh Bridge Authority to provide an estimated cost of Dhaka Elevated Expressway.[8] The previous consultant, AECOM Australia Propriety Ltd, had provided estimate that Bangladesh Bridge Authority thought was too high.[9]
On 29 March 2021, Abdul Baki, additional secretary in charge of World Bank Wing at the Ministry of Finance, was appointed managing director of Infrastructure Investment Facilitation Company.[10] It supported Bangladesh Railway in creating the draft Bangladesh Railway Amendment Act.[11]
Board of directors
edit| Name | Position | Reference |
|---|---|---|
| Md. Shahriar Kader Siddiky | Chairman | [12] |
| Md. Habibur Rahman | Director | [12] |
| Mirana Mahrukh | Director | [12] |
| Mahbubul Alam | Director | [12] |
| A. K. M. Nurul Fazal Bulbul | Director | [12] |
| Golam Mainuddin | Director | [12] |
| AKM Fazlul Haque | Director | [12] |
References
edit- ^ "52pc consumers apply for electricity connection through middlemen: survey". The Daily Star. 2021-05-29. Retrieved 2022-11-04.
- ^ a b "Infrastructure Investment Facilitation Company (IIFC)". iifc.gov.bd. Retrieved 21 June 2020.
- ^ "New MD for of IIFC". The Daily Star. 14 January 2020. Retrieved 21 June 2020.
- ^ "Govt sweetens deals for economic zones". The Daily Star. 10 December 2014. Retrieved 21 June 2020.
- ^ "Saifur lashes out at IDCOL, IIFC for lacklustre show". The Daily Star. Archived from the original on 22 June 2020. Retrieved 21 June 2020.
- ^ "Deal on leasing out Dhaka-Ctg optical fibre cable network". The Daily Star. Retrieved 2022-11-04.
- ^ Farrugia C.; Reynolds, T; Orr, RJ (August 2008). "Public-Private Partnership Agencies: A Global Perspective". CRGP Working Paper (39).
- ^ "Expressway deal by early Jan". The Daily Star. 2010-12-19. Retrieved 2022-11-04.
- ^ "Cost estimate too high". The Daily Star. 18 October 2010. Retrieved 21 June 2020.
- ^ "ERD add secy to be also IIFC MD". The Daily Star. 2021-03-29. Retrieved 2022-11-04.
- ^ "Bangladesh Railway act back to drawing board after 133 years". The Financial Express. Retrieved 2022-11-04.
- ^ a b c d e f g "Infrastructure Investment Facilitation Company (IIFC)". www.iifc.gov.bd. Retrieved 2022-11-04.
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