The Asian Development Bank (ADB) on Thursday launched the Public-Private Partnership (PPP) Monitor, Bangladesh in the capital.
Key findings from the maiden PPP Monitor issue revealed that further steps were needed to to make PPPs more viable and there was a need to build the government's capacity to bring in more PPPs through competitive tendering -- delivering value for money for the government, according to a press release.
Planning Minister MA Mannan was present at the launching ceremony, along with Ashok Lavasa, vice president for private sector operations and public-private partnerships at ADB, F. Cleo Kawawaki, head of ADB's PPP Office, and Md Mushfiqur Rahman, CEO of Bangladesh PPP Authority.
Bangladesh had a relatively mature PPP environment, and its government made great strides with a strong institutional and regulatory framework, the release also said.
The PPP Monitor provides investors with business intelligence on the enabling environment, policies, priority sectors, and deals to facilitate informed investment decisions in Bangladesh.
It is also a diagnostic tool for governments in identifying gaps in legal, regulatory, and institutional frameworks or issues, in particular sectors or with its financial markets.
Meanwhile, ADB's Office of Public–Private Partnership (OPPP) has been mandated to provide transaction advice on the Joydebpur Mymensingh Road (N3) PPP project to be built along one of the country's busiest economic corridors and which is expected to deliver local jobs and skills, as well as cut road congestion and improve road safety.
ADB's advice will help ensure the project maximizes gains in connectivity and logistics while helping rebalance regional disparities.
It will also explore private sector innovations and efficiencies to reduce congestion, improve traffic flow and safety, and deliver climate resilient and future-proofed infrastructure that accommodates electric vehicles, conserves rainwater, and reduces greenhouse gases.
The scope of the mandate agreed with Bangladesh's Public–Private Partnership Authority covers project feasibility, transaction due diligence and structuring, bidder procurement, and negotiation to reach commercial and financial closure.
The Roads and Highways Department of the Ministry of Road Transport and Bridges is the project's implementing agency.
This project builds on OPPP's successful track record in supporting Bangladesh in its road sector, said head of OPPP F Cleo Kawawaki.
OPPP is focused on providing advice that assesses options to decarbonize the expressway and plan for future interventions like electric vehicle charging and innovative climate mitigation and adaptations, the official added.
In addition to advising on the project, OPPP's mandate will encompass capacity augmentation to identify a robust pipeline of new opportunities and monitor two other road PPP projects in Bangladesh -- the Dhaka Bypass Road PPP project which achieved financial close in April 2021, and Rampura Amulia Demra PPP project which reached commercial close in January 2022.
The project is aligned with ADB's country partnership strategy for Bangladesh, 2021–2025 which prioritizes road transport, urban and water, and health for targeted PPP-related support.
