Dhaka, Bangladesh, August 7, 2010─
IFC, a member of the World Bank Group, in cooperation with the government of Bangladesh, is working with senior-level government executives on ways to promote private sector development in the country.
The Executive Core Group Program focuses on developing private sector-friendly investment policies and a framework to promote new private sector investment through a series of learning and development workshops for government officials. Participants will work closely with the Bangladesh Board of Investment and other stakeholders to identify administrative and regulatory bottlenecks experienced by local and international investors. Emphasis is on building skill sets and facilitating practical exercises that will enable business process simplification and streamlining.
“The long-term objective of the program is to create a critical mass of government officials who will support Bangladesh’s commitment to improved social and economic development and to significantly reducing poverty,” said Dr. S.A. Samad, Executive Chairman, Bangladesh Board of Investment.
The program is a joint effort of the Bangladesh Investment Climate Fund, managed by IFC in partnership with the U.K. Department for International Development and the European Union, along with the Bangladesh Enterprise Institute, Korea Development Institute and Institute of Governance Studies. The program also will recommend measures to overcome obstacles by adopting processes to assess impacts of regulatory changes and review administrative barriers.
“Through the program, government officials, along with their private sector peers, can identify opportunities for further improvement of the existing procedures related to investment facilitation and promotion in Bangladesh,” said Laura Watson, BICF Program Manager.
The effort is part of BICF’s broader work with the government of Bangladesh to facilitate economic growth by providing training for the country’s civil servants on issues such as private sector development, regulatory improvements and trade barrier identification. The program has organized several core groups, comprised of government staff from a number of ministries and business professionals, to take part in a variety of seminars, workshops, field visits and study tours in Bangladesh and in other parts of the world.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
About BICF
The Bangladesh Investment Climate Fund (BICF) provides advisory services aimed at improving business operating environment in Bangladesh. BICF is managed by IFC, in partnership with the U.K Department for International Development and the European Union. Its objectives are consistent with the Bangladesh government’s strategic vision for private sector development within its poverty reduction strategy. Government agencies and BICF—in close collaboration with the key stakeholders in Bangladesh—jointly design and implement programs to institute business friendly policies, laws and regulations, and strengthen the institutions that implement them.
