Strengthening Bangladesh Infrastructure Finance Fund Limited (BIFFL) (ADB-51311-001)

Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of Bangladesh
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 19, 2019

Disclosed by Bank Apr 12, 2019


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Project Description

According to the bank website, "The proposed project will be designed as a financial intermediation loan in an amount up to $100 million from Asian Development Bank (ADB)'s ordinary capital resources. The Finance Division, Ministry of Finance will be the executing agency. Bangladesh Infrastructure Finance Fund Limited (BIFFL) will be the implementing agency. A subsidiary loan agreement will be signed between the Finance Division and BIFFL, and will be in form and substance satisfactory to ADB. The Finance Division will relend to BIFFL either USD or Taka funds, based on the nature of the financing needs. The subloans will be priced commercially. BIFFL will identify, evaluate and finance qualified PPP subprojects, by ensuring that they comply with the project implementation requirements in terms of technical efficiency, financial and economic soundness, environment and social safeguards, procurement guidelines, and other requirements stipulated in the project administration manual. The implementation period will be for 3 years from 2019-2022. BIFFL will establish a project management unit with staffing and other resources satisfactory to ADB. Subproject selection will be based on pre-determined eligibility criteria and follow approved environmental and social management system (ESMS). The subloans will be commercially priced, and reflect BIFFL's cost of funds and subproject specific risks."

Investment Description
  • Asian Development Bank (ADB)
Private Actors
Contact Information

Responsible ADB Officer Huang, Anqian
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies
Finance Division, MOF (EA)
Bangladesh Secretariat, Dhaka-1000, Bangladesh

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main