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

Countries
  • Bangladesh
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Government of Bangladesh
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jun 25, 2020

Disclosed by Bank Apr 12, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Bangladesh Infrastructure Finance Fund Limited Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

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

How it works

How it works