Dhaka, Feb 11: The International Finance Corporation, the private-sector development arm of the World Bank, has expressed support for added investment in small and medium businesses in Bangladesh, a news report said today. Visiting IFC vice president Assaad Jabre pledged the organisation's continuing commitment to Bangladesh during a meeting yesterday with Bangladeshi finance minister Saifur Rahman, said the state-run news agency, Bangladesh Sangbad Sangstha.
"We had requested the IFC to invest in agro-based, ceramic, leather and other sectors for which raw materials are available locally ... they have responded positively," Rahman told the news agency after the meeting.
The IFC has already spent USD 288 million of its own money - and another USD 92 million from other sources - to finance 32 projects in Bangladesh's industries, including power, telecommunications, cement, leasing and home financing companies, the agency said.
Last year, the IFC and other donors set up a technical assistance group - the south Asia enterprise development facility - in Dhaka to support small and medium enterprises.
Jabre, the IFC's vice president for operations, and Dimitris Tsitsiragos, the IFC director for South Asia, arrived Sunday in the Bangladeshi capital on a three-day visit. Bureau Report