Infrastructure Investment Facilitation Company

Infrastructure Investment Facilitation Company (IIFC)
Formation1999
HeadquartersDhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
Websitewww.iifc.gov.bd

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 Md. Shahabuddin Patwary is the managing director of the company.[2][3]

History[edit]

Infrastructure 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
Sharifa Khan Chairman [12]
Md. Habibur Rahman Director [12]
Md. Shahriar Kader Siddiky Director [12]
Md. Jashim Uddin Director [12]
A. K. M. Nurul Fazal Bulbul Director [12]
Golam Mainuddin Director [12]
Md. Shahabuddin Patwary Director [12]

References[edit]

  1. ^ "52pc consumers apply for electricity connection through middlemen: survey". The Daily Star. 2021-05-29. Retrieved 2022-11-04.
  2. ^ a b "Infrastructure Investment Facilitation Company (IIFC)". iifc.gov.bd. Retrieved 21 June 2020.
  3. ^ "New MD for of IIFC". The Daily Star. 14 January 2020. Retrieved 21 June 2020.
  4. ^ "Govt sweetens deals for economic zones". The Daily Star. 10 December 2014. Retrieved 21 June 2020.
  5. ^ "Saifur lashes out at IDCOL, IIFC for lacklustre show". The Daily Star. Retrieved 21 June 2020.
  6. ^ "Deal on leasing out Dhaka-Ctg optical fibre cable network". The Daily Star. Retrieved 2022-11-04.
  7. ^ Farrugia C.; Reynolds, T; Orr, RJ (August 2008). "Public-Private Partnership Agencies: A Global Perspective". CRGP Working Paper (39).
  8. ^ "Expressway deal by early Jan". The Daily Star. 2010-12-19. Retrieved 2022-11-04.
  9. ^ "Cost estimate too high". The Daily Star. 18 October 2010. Retrieved 21 June 2020.
  10. ^ "ERD add secy to be also IIFC MD". The Daily Star. 2021-03-29. Retrieved 2022-11-04.
  11. ^ "Bangladesh Railway act back to drawing board after 133 years". The Financial Express. Retrieved 2022-11-04.
  12. ^ a b c d e f g "Infrastructure Investment Facilitation Company (IIFC)". www.iifc.gov.bd. Retrieved 2022-11-04.


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