Infrastructure Investment Facilitation Company
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The Infrastructure Investment Facilitation Company (IIFC) () is a
Bangladesh government The Cabinet of Bangladesh ( bn, বাংলাদেশের মন্ত্রিসভা) is the chief executive body of the People's Republic of Bangladesh. The cabinet is the collective decision-making body of the entire government under ...
company that acts as an advisory body under the
Economic Relations Division The Economic Relations Division (ERD) is one of the four divisions of the Ministry of Finance, of the Government of the People's Republic of Bangladesh. The other three divisions of the Ministry of Finance are: Finance Division, Bank and Financial ...
of the Ministry of Finance. Md. Shahriar Kader Siddiky is the chairperson and Md. Shahabuddin Patwary is the managing director of the company.


History

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. The company provides consultancy services to public agencies and projects regarding the development of infrastructure to encourage private investments. In 2004, M Saifur Rahman, Minister of Finance and Planning, criticized the
Infrastructure Development Company Limited Infrastructure Development Company Limited is a government owned specialised non-bank financial institution that finances renewable infrastructure projects in Bangladesh and is located in Dhaka, Bangladesh Bangladesh (}, ), officiall ...
and Infrastructure Investment Facilitation Center for failing to properly encourage investment. It signed an agreement with Power Grid Company of Bangladesh to lease out the fiber optic cable from Chittagong to Dhaka. 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. In 2010, the Infrastructure Investment Facilitation Company was hired by
Bangladesh Bridge Authority Bangladesh Bridge Authority is an autonomous Government body responsible for the construction and maintenance of Bridges, Tunnels, Flyovers, Over Passes, Causeway and Subway in Bangladesh. It is headquartered at Dhaka, Bangladesh. It is under the M ...
to provide an estimated cost of
Dhaka Elevated Expressway Dhaka Elevated Expressway is Bangladesh's first elevated expressway project, which will connect the Shahjalal airport with Kutubkhali via Mohakhali, Tejgaon and Kamalapur of Dhaka, Bangladesh. It is one of the largest infrastructure projects ta ...
. The previous consultant, AECOM Australia Propriety Ltd, had provided estimate that Bangladesh Bridge Authority thought was too high. 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. It supported Bangladesh Railway in creating the draft Bangladesh Railway Amendment Act.


Board of directors


References

1999 establishments in Bangladesh Organisations based in Dhaka Government agencies of Bangladesh Government-owned companies of Bangladesh Public–private partnership units {{Bangladesh-org-stub