On 3 March 2016, the Honorable Prime Minister Sheikh Hasina chaired the first meeting of the Board of Governors to review the activities of the PPP Authority established under the Public-Private Partnership Act 2015 (PPP Act). The PPP Act was enacted in September 2015 to provide a robust legal framework for the PPP Program in Bangladesh. The PPP Authority has been established to facilitate and promote the development of public sector infrastructure by attracting local and international private sector investments.
At the first Board of Governors meeting, the CEO of the PPP Authority, providing a briefing on the implementation and progress of PPP activities in the country over the last couple of years. A large portfolio of PPP projects has now been established with a pipeline of 23 projects with an estimated initial value of US$14 billion across a number of sectors. Contract for 7 PPP projects with an estimated value of US$ 1.3 billion have been signed. 12 PPP projects with an estimated value of US$ 1 billion are in the final stages of competitive tendering. 9 projects are undergoing feasibility analysis, and are expected to attract an additional US$5 billion.
Speaking at the meeting, Honorable Prime Minister Sheikh Hasina stressed the importance of expediting the pace of development saying, "We want to accelerate the pace of development in the country, but this is not possible for the government alone…there's also a need for PPP initiatives." Sheikh Hasina cited that the private sector had played a key role in the development of South Korea. Highlighting the bright prospects of PPP projects in the country, the Prime Minister said many projects have so far been implemented under PPP, and asked the authorities concerned to always look for the country's benefits while moving ahead with PPP projects.
The meeting decided that the Prime Minister as chairperson of the Board of Governors would look after the policy issues, while the PM's Principal Secretary, as the chairman of the PPP Authority, will look after the issues for removing the obstacles to project implementation, and the Chief Executive Officer of the PPP Authority will look after the operational aspects. Finance Minister AMA Muhith, Road Transport and Bridges Minister Obaidul Quader, Housing and Public Works Minister Engineer Mosharraf Hossain, Civil Aviation and Tourism Minister Rashed Khan Menon, Railways Minister Muzibul Haque, State Minister for Finance and Planning MA Mannan and State Minister for ICT Junaid Ahmed Palak, among others, attended the meeting.
Note 1: The PPP Act is facilitating the development of core sector public infrastructure and services vital for the people of Bangladesh and PPP Authority plays pivotal role in ensuring an efficient and comprehensive development of the PPP program. This includes development of policy, regulations and guidelines, development of standard documentation, appointment of consultants and advisors, providing concurrence and opinions in relation to PPP projects, as well as organizing capacity building seminars and training sessions for the relevant stakeholders.
Note 2: Bangladeshi’s PPP program will not only finance the design, construction, operation and maintenance for much needed infrastructure but will also bring new technology, private sector efficiency and thousands of jobs for those that need them most.