http://www.bssnews.net/newsDetails.php?cat=0&id=156150&date=2011-01-18
Plan to finance $120m to set up economic zones
DHAKA, Jan 18 (BSS) – The World Bank (WB) in collaboration with DFID and IFC will finance US$ 120 million to the proposed Private Sector Development Support Project (PSDSP) to set up economic zones in the country.
The US$ 120 million project aims to create a sustainable industrialization model by developing a public private partnership (PPP) approach to investment in zones.
The WB and Department for International Development (DFID) and International Finance Corporation (IFC) have successfully concluded negotiation for the PSDSP this month, according to a WB statement issued today.
The Investment Climate Assessment for Bangladesh identified lack of serviced land and quality infrastructure as the two recurring constraints for private sector development.
Economic Zones can be an important tool for attracting private investment, generating employment and accelerating economic growth.
Economic Zones will create increased linkages with the domestic economy by broadening and building on Bangladesh’s positive experience with Export Processing Zones.
The Government and the World Bank have agreed on Kaliakoir as the first site for developing an Economic Zone. The chosen site at Kaliakoir is Government- owned and no resettlement of people is needed.
The site is fenced, already semi-developed and over 50 percent of the land is elevated and requires no land fill. The site is also strategically located to take advantage of the rail link to the airport and Dhaka city.
The proposed project will finance public sector investment in infrastructure for the development of serviced land and leverage private financing for Economic Zone development.
The initiative will also focus on human resource development and better compliance with environmental and social standards.
Plan to finance $120m to set up economic zones
DHAKA, Jan 18 (BSS) – The World Bank (WB) in collaboration with DFID and IFC will finance US$ 120 million to the proposed Private Sector Development Support Project (PSDSP) to set up economic zones in the country.
The US$ 120 million project aims to create a sustainable industrialization model by developing a public private partnership (PPP) approach to investment in zones.
The WB and Department for International Development (DFID) and International Finance Corporation (IFC) have successfully concluded negotiation for the PSDSP this month, according to a WB statement issued today.
The Investment Climate Assessment for Bangladesh identified lack of serviced land and quality infrastructure as the two recurring constraints for private sector development.
Economic Zones can be an important tool for attracting private investment, generating employment and accelerating economic growth.
Economic Zones will create increased linkages with the domestic economy by broadening and building on Bangladesh’s positive experience with Export Processing Zones.
The Government and the World Bank have agreed on Kaliakoir as the first site for developing an Economic Zone. The chosen site at Kaliakoir is Government- owned and no resettlement of people is needed.
The site is fenced, already semi-developed and over 50 percent of the land is elevated and requires no land fill. The site is also strategically located to take advantage of the rail link to the airport and Dhaka city.
The proposed project will finance public sector investment in infrastructure for the development of serviced land and leverage private financing for Economic Zone development.
The initiative will also focus on human resource development and better compliance with environmental and social standards.
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