Public Private Partnership Authority of the People’s Republic of Bangladesh Signs a Memorandum of Understanding (MOU) for Business Cooperation with the Mizuho Bank, Ltd
Posting Date: 19 December, 2017
Public Private Partnership Authority (hereinafter the “PPP Authority”) of the People’s Republic of Bangladesh has signed a memorandum of understanding (MOU) with the Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) for the promotion of public private partnership (PPP) projects in Bangladesh on December 19, 2017.
Bangladesh has been enjoying a steady economic growth backed by a large population. It seeks to become an advanced country by 2041. It expects to see more infrastructure development projects being launched in the coming years, mainly in the power and energy sector and transportation sector, which will lead to further economic growth and expanded business opportunities. The government of Bangladesh has been focusing on promoting PPP recently, in addition to official development assistance (ODA) it has been using for infrastructure development. At the present, about 250 Japanese companies have entered the country, and the number is expected to increase further mainly in the infrastructure and related sectors.
Based on the MOU, Mizuho Bank, Ltd will work with the PPP Authority and support its efforts to apply PPP to the infrastructure development projects in Bangladesh using our knowhow on infrastructure development, thereby supporting our customers as they expand business in the country. Moreover, by improving it’s service quality, Mizuho intend to accommodate the diverse needs of it’s customers and also contribute to the development of the local economy.
Md. Faruque Ahmed, Director General (Programming & Investment Promotion), (Joint Secretary) and the other Directors of Public Private Partnership Authority were present at that event.