IFC Supports Private Sector Growth and Investment Climate Reform in Bangladesh

In Dhaka: 
Shazia Ahmed  
Phone: 0171-411-0580 
E-mail: SAhmed15@ifc.org




Dhaka, Bangladesh, November 3, 2009—IFC, a member of the World Bank Group, 
today pledged to increase its investments and advisory services in Bangladesh 
to help the country strengthen its private sector, create jobs, and better 
mitigate climate change. 

During her official visit to Dhaka, Rachel Kyte, IFC Vice President for 
Business Advisory Services, met with the Bangladesh Bank governor, key 
government officials, businessmen and women from various sectors, and a 
cross-section of young people. She emphasized IFC’s support for Bangladesh’s 
efforts to improve its investment climate and its work helping smaller 
businesses become more competitive.  

Kyte congratulated Bangladesh for achieving recognition as the fastest reformer 
in the region, according to the World Bank Group’s 2009 Doing Business report, 
and praised the government’s vision of a digital Bangladesh. She also 
highlighted IFC’s recent banking sector work to introduce sustainable energy 
finance and applauded Eastern Bank’s first investment in a renewable energy 
plant in a small dairy farm—the first of many environmentally supportive 
investments to come.
   
“IFC is delivering on its commitment to support the private sector’s 
contribution to Bangladesh’s economic growth, job creation, and poverty 
reduction,” Kyte said. “Today we commit to strengthening our partnership with 
Bangladesh to encourage reform and private sector investment that will improve 
lives and help the economy thrive.” 
  
Kyte also spoke about IFC’s latest investments in Bangladesh in Frontier PE, 
Bangladesh’s first private equity fund, to support private sector growth; and 
in PRAN Group agro-processers, to expand opportunities for farmers. 

IFC’s office in Bangladesh handles investments and has two advisory service 
facilities.  The SouthAsia Enterprise Development Facility, in partnership with 
the United Kingdom’s Department for International Development and Norad, aims 
to improve the private sector and help small and medium enterprises perform, 
compete, and grow. The Bangladesh Investment Climate Fund, in partnership with 
DFID and the European Commission, works with the government  to improve the 
investment climate through regulatory reform and special economic zones.  

Bangladesh was the first stop on Kyte’s two-country visit, which also will take 
her to Delhi, where she will discuss how IFC advisory services and investments 
can have the greatest developmental impact on  India’s economy. 

About IFC  
IFC, a member of the World Bank Group, creates opportunity for people to escape 
poverty and improve their lives. We foster sustainable economic growth in 
developing countries by supporting private sector development, mobilizing 
private capital, and providing advisory and risk mitigation services to 
businesses and governments. Our new investments totaled $14.5 billion in fiscal 
2009, helping channel capital into developing countries during the financial 
crisis. For more information, visit www.ifc.org.