IBFB signs agreement with BICF to strengthen business reform research and advocacy capacity

The International Business Forum of Bangladesh (IBFB) signed a Cooperation Agreement with the Bangladesh Investment Climate Fund (BICF), managed by the International Finance Corporation, in partnership with the U.K. Department for International Development and the European Union on Sunday, 28 March 2010. Under the agreement, BICF will provide technical assistance to assist IBFB in strengthening its ability to research and advocate for the implementation of business reforms that can open up new opportunities for Bangladesh.

Speaking at the occasion, Laura Watson, Program Manager, Stakeholder Engagement, BICF, said, “We are proud to support IBFB in its initiative to identify constraints to business in Bangladesh, and design and advocate appropriate solutions to remove administrative barriers to business. We believe that the private sector can play a key role in identifying and designing solutions to the hurdles that businesses face, thereby bringing about faster economic growth and creating more jobs in Bangladesh.” 

Mahmudul Islam Chowdhury, President, IBFB, said, “We are glad at the opportunity to undertake this strategic partnership with BICF, who brings significant experience in improving the investment climate, both in Bangladesh and abroad. We believe that private sector of Bangladesh should be in a position to review the business policies and procedures and make recommendations to reduce administrative bottlenecks affecting business growth and development. This initiative will enable IBFB to advocate for the much-needed changes in business policies and procedures that would make doing business easier in the country. We are confident that as a result of this initiative, more jobs and business opportunities will be created in Bangladesh.”

Members of the IBFB Board of Directors and senior officials from BICF were present at the signing of the agreement.