Keiko Honda, executive vice president of the Multilateral Investment Guarantee Agency (MIGA), an arm of the World Bank Group, will be in Bangladesh for a three-day visit starting today.
During her visit, Honda will meet government representatives, state-owned enterprises and banks to identify areas where MIGA can help the country mobilise capital for important power and infrastructure projects to meet development goals.
Since inception, the agency has insured projects in Bangladesh in several sectors, including power, manufacturing, telecoms and banking.
Most recently, MIGA issued guarantee in support of the Ashuganj South power plant, which is adding clean generation capacity to the nation's grid through an indigenous fuel source.
MIGA's current gross exposure in Bangladesh is $330 million, according to the agency.
“While Bangladesh's recent economic growth is certainly a positive trend, it brings higher demand for power and better infrastructure,” said Honda.
“We believe MIGA can play a continued, important role in catalysing investments in the country,” she said.
MIGA was created in 1988 as a member of the World Bank Group to promote foreign direct investment into emerging economies to support economic growth, reduce poverty and improve people's lives.