IFC to provide port advice to Bangladesh?


The International Finance Corporation (IFC) has expressed an interest in providing advisory support to Bangladesh concerning the building of a deep-sea port in Sonadia.

Recently, the IFC submitted a concept paper to the Bangladeshi Ministry of Shipping for development of the proposed port, reported the Financial Express.

Bangladesh had been discussing funding and construction with various countries and foreign companies in order to meet growing demand and internal and external trade.

Prime Minister Sheikh Hasina’s recent visit to China regarding a deal with Beijing on the construction of the port was almost signed, yet it was dropped at the last minute.

According to the concept paper: “[the] IFC would help draw up a comprehensive scheme outlining the measures to be undertaken by the Government of Bangladesh (GoB) for the development of the deep sea port.”

The paper added: “IFC would like to assist GoB to address few critical areas upfront which will help GoB take an approach to implement projects in the port sector successfully.”

The IFC said that it will help GoB in the evaluation of proposals submitted by interested parties.

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