Economic Reporter :
Private Industry and Investment Adviser to the Prime Minister, Salman Fazlur Rahman on Sunday underscored the need for long-term financing for the development of private sector.
“We are mostly dependent on commercial banks for any financing but banks are not supposed to go for long-term financing,” he said while speaking as the chief guest at the “Local Capital Market Infrastructure Financing Conference” at Radission Hotel in the city, said a press release.
Dhaka Chamber of Commerce and Industry (DCCI) and Guarant Co, a Private Infrastructure Development Group (PIDG) company, jointly organized the international conference.
Salman said previously, some initiatives were taken for solving the problem of long-term finance but it was not effective. “For this, we need to have a strong bond market in the stock market to facilitate long-term finance for the industries as well as infrastructures,” he added.
He also said fluctuation is common in the stock market and for a vibrant bond market, the country should have an effective stock market.
Chairman of the Private Infrastructure Development Group (PIDG) Andrew Bainbridge was present as guest of honour while DCCI President Osama Taseer and Chief Executive Officer of the GuarantCo, among others, delivered speeches on the occasion, said a media release.
Osama Taseer said that riding on the commendable economic growth over the last decade, Bangladesh is set to meet 8.13 percent GDP growth this fiscal year and the country is becoming one of the five fastest growing economies in the world.
“Today, we estimate that our economy will require US$300 billion to $320 billion until 2030 for infrastructure development, increasing the infrastructure investment to 5 percent to 6 percent from current 3.64 percent to GDP,” he added.
Andrew Bainbridge said capital markets, especially bond markets, have been the dominant source of finance for infrastructure projects in mature and developed markets.
Private Industry and Investment Adviser to the Prime Minister, Salman Fazlur Rahman on Sunday underscored the need for long-term financing for the development of private sector.
“We are mostly dependent on commercial banks for any financing but banks are not supposed to go for long-term financing,” he said while speaking as the chief guest at the “Local Capital Market Infrastructure Financing Conference” at Radission Hotel in the city, said a press release.
Dhaka Chamber of Commerce and Industry (DCCI) and Guarant Co, a Private Infrastructure Development Group (PIDG) company, jointly organized the international conference.
Salman said previously, some initiatives were taken for solving the problem of long-term finance but it was not effective. “For this, we need to have a strong bond market in the stock market to facilitate long-term finance for the industries as well as infrastructures,” he added.
He also said fluctuation is common in the stock market and for a vibrant bond market, the country should have an effective stock market.
Chairman of the Private Infrastructure Development Group (PIDG) Andrew Bainbridge was present as guest of honour while DCCI President Osama Taseer and Chief Executive Officer of the GuarantCo, among others, delivered speeches on the occasion, said a media release.
Osama Taseer said that riding on the commendable economic growth over the last decade, Bangladesh is set to meet 8.13 percent GDP growth this fiscal year and the country is becoming one of the five fastest growing economies in the world.
“Today, we estimate that our economy will require US$300 billion to $320 billion until 2030 for infrastructure development, increasing the infrastructure investment to 5 percent to 6 percent from current 3.64 percent to GDP,” he added.
Andrew Bainbridge said capital markets, especially bond markets, have been the dominant source of finance for infrastructure projects in mature and developed markets.
