Multilateral Investment Guarantee Agency (MIGA) Executive Vice President Keiko Honda yesterday offered Bangladesh of providing guarantee as a safeguard measure against risks associated with private investment in energy and power sector.
MIGA could also help bring private investors under the Public-Private Partnership (PPP) initiative if the government lacks adequate money to invest in the sector, she said, expressing the interest during a meeting with Planning Minister AHM Mostafa Kamal at his office in Dhaka.
“The MIGA can play a role of guarantor so the private investment does not face risk,” Honda was quoted in a statement by the ministry.
She inquired about the priority sectors Bangladesh identified for investment and development like LNG terminal, power generation, railway infrastructure, water management and river dredging.
She informed that MIGA is considering a US$250 million investment with private sector in Bangladesh’s power sector. This is in addition to their already invested $330 million in different power plants.
MIGA Asia-Pacific Regional Head Muhamet Banba Fall and the World Bank’s Bangladesh Country Director Johannes Zutt were present at the meeting.
The planning minister expected that the World Bank would continue their support to the development of Bangladesh, keeping confidence on the people of the country.
“Our economy is now on a sound footing. The World Bank should cooperate with us through investing in our priority sectors,” he said.