The Islamic Corporation for the Development of the Private Sector Signs a MoU with Green Delta Capital Limited in Bangladesh
The Islamic Corporation for the Development of the Private Sector Signs a MoU with Green Delta Capital Limited in Bangladesh

Dhaka - Bangladesh - March 20, 2017

 

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, in partnership with Green Delta Capital Limited (GDCL), have signed a memorandum of understanding (MoU). Under this MOU, both parties will work together regarding sourcing, structuring and implementing various financing transactions in Bangladesh.

Mr. Farid Masmoudi, Director, Direct Investments and Financing Department & Member of the Management Committee of ICD, and Mr. Md. Rafiqul Islam, Managing Director and CEO of Green Delta Capital Limited signed the MoU on behalf of their respective organizations.

During the MOU signing event, Mr. Farid Masmoudi said, “Bangladesh is one of ICD’s member countries and since the beginning of ICD operations; we disbursed around USD 153 million in favor of Bangladeshi projects and banks. It is also worth to mention that our future pipeline includes financing proposals of two Power Plants, and one Sugar Refinery. We are also keen to grow ICD involvement with Bangladeshi projects over time.”

Mr. Md. Rafiqul Islam said, “I am pleased to take a step forward in our strong partnership with ICD and this is another historical moment for GDCL. The MOU between GDCL and ICD is a milestone in the country where our strong collaboration and friendship will address the significant financing needs in Bangladesh for the private sector to bring more sustainable business model in line with national goal to be a “Middle Income Country” by 2021.”

During the MoU signing Mr. Abdul Hafiz Choudhury, Chairman of Green Delta Insurance and Director of Green Delta Capital Limited, Mr. A S A Muiz, Senior Consultant of Green Delta Insurance were present. Mr. Syed Afsor H. Uddin, Chief Executive Officer, Public Private Partnership Authority, Prime Minister's Office was present as Chief Guest. Mr. Mabroor Mahmood, Principal - Term Finance, Director Investments and Financing Department, ICD were also present at the signing ceremony along with other high officials from both the organizations.

The signing ceremony was followed by a press conference where the participants discussed about the newer avenues and more opportunities to be obtained from this MOU.