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
“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.
To learn more about IFC’s activities in South Asia, visit www.ifc.org/southasia.
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.
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.