Infrastructure Investment Facilitation Company

Bangladeshi public-private partnership development agency

Infrastructure Investment Facilitation Company (IIFC)

Formation	1999
Headquarters	Dhaka, Bangladesh
Region served	Bangladesh
Official language	Bengali
Website	www.iifc.gov.bd

The Infrastructure Investment Facilitation Company (IIFC) (Bengali: অবকাঠামো বিনিয়োগ সুবিধা সংস্থা) is a Bangladesh government company that acts as an advisory body under the Economic Relations Division of the Ministry of Finance.^[1] Md. Shahriar Kader Siddiky is the chairperson and Md. Shahabuddin Patwary is the managing director of the company.^[2]^[3]

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.^[2] The company provides consultancy services to public agencies and projects regarding the development of infrastructure to encourage private investments.^[4]

In 2004, M Saifur Rahman, Minister of Finance and Planning, criticized the Infrastructure Development Company Limited and Infrastructure Investment Facilitation Center for failing to properly encourage investment.^[5] It signed an agreement with Power Grid Company of Bangladesh to lease out the fiber optic cable from Chittagong to Dhaka.^[6]

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.^[7]

In 2010, the Infrastructure Investment Facilitation Company was hired by Bangladesh Bridge Authority to provide an estimated cost of Dhaka Elevated Expressway.^[8] The previous consultant, AECOM Australia Propriety Ltd, had provided estimate that Bangladesh Bridge Authority thought was too high.^[9]

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.^[10] It supported Bangladesh Railway in creating the draft Bangladesh Railway Amendment Act.^[11]

Board of directors


Name	Position	Reference
Sharifa Khan	Chairman	^[12]
Md. Habibur Rahman	Director	^[12]
Md. Shahriar Kader Siddiky	Director	^[12]
Md. Jashim Uddin	Director	^[12]
A. K. M. Nurul Fazal Bulbul	Director	^[12]
Golam Mainuddin	Director	^[12]
Md. Shahabuddin Patwary	Director	^[12]

References

^ "52pc consumers apply for electricity connection through middlemen: survey". The Daily Star. 2021-05-29. Retrieved 2022-11-04.
^ ^a ^b "Infrastructure Investment Facilitation Company (IIFC)". iifc.gov.bd. Retrieved 21 June 2020.
^ "New MD for of IIFC". The Daily Star. 14 January 2020. Retrieved 21 June 2020.
^ "Govt sweetens deals for economic zones". The Daily Star. 10 December 2014. Retrieved 21 June 2020.
^ "Saifur lashes out at IDCOL, IIFC for lacklustre show". The Daily Star. Retrieved 21 June 2020.
^ "Deal on leasing out Dhaka-Ctg optical fibre cable network". The Daily Star. Retrieved 2022-11-04.
^ Farrugia C.; Reynolds, T; Orr, RJ (August 2008). "Public-Private Partnership Agencies: A Global Perspective". CRGP Working Paper (39).
^ "Expressway deal by early Jan". The Daily Star. 2010-12-19. Retrieved 2022-11-04.
^ "Cost estimate too high". The Daily Star. 18 October 2010. Retrieved 21 June 2020.
^ "ERD add secy to be also IIFC MD". The Daily Star. 2021-03-29. Retrieved 2022-11-04.
^ "Bangladesh Railway act back to drawing board after 133 years". The Financial Express. Retrieved 2022-11-04.
^ ^a ^b ^c ^d ^e ^f ^g "Infrastructure Investment Facilitation Company (IIFC)". www.iifc.gov.bd. Retrieved 2022-11-04.