World Bank Archives

March 1, 2024

February-25-2024—World-Bank-press-LBN.jpg

The World Bank Managing Director for Operations Ms. Anna Bjerde concluded her first visit to Bangladesh on 25 February 2024 Sunday. She reiterating the World Bank’s strong support to help Bangladesh achieve its vision of upper-middle income status by 2031. She underscored that deep macroeconomic and financial sector reforms are needed urgently to sustain inclusive growth.

The story of Bangladesh’s economic growth and development has been an inspiration for many countries, said Bjerde. Fast and bold reforms in monetary and fiscal policies will enable Bangladesh to maintain macroeconomic stability, reduce financial sector risks, and sustain inclusive growth amid global uncertainties.

Bjerde met the honorable Prime Minister Sheikh Hasina and commended the country’s development. Today, almost all children—boys and girls—go to school and nearly every household has electricity. She also thanked the Prime Minister for sheltering displaced Rohingya people and pledged to support Bangladesh in addressing their needs until their safe and voluntary return, as well as those of the host community. The World Bank and the Government are discussing a financing program of over $650 million for two new projects to address the needs of both the displaced Rohingya population and the host communities in the Chattogram Division. A little less than half of the financing will be utilized for the displaced Rohingya people and will be entirely on grant terms.

I am very proud of our long-standing partnership with Bangladesh that has helped lift millions of people out of poverty. We will continue supporting Bangladesh to create jobs, develop a robust private sector, attract investment, and build resilience to climate shocks and future crises while at the same time ensuring that no one is left behind, Bjerde added.

During the visit, she also met with the Finance Minister, Bangladesh Bank Governor, senior government officials, private sector and civil society leaders and women entrepreneurs to discuss Bangladesh’s development priorities. She was accompanied by the World Bank Vice President for the South Asia Region, Martin Raiser.

Since Bangladesh’s independence, the World Bank has committed about $41 billion in International Development Association (IDA) financing in the form of grants, interest-free loans, and concessional credits. Currently, Bangladesh has the largest ongoing IDA program in the world, and the World Bank is Bangladesh’s largest development partner.

November 7, 2023

A group of women entrepreneurs supported by Commercial Bank of Ceylon PLC via the Bank’s Anagi Women’s Banking portfolio of products and services inspired the visiting World Bank Managing Director Operations Ms Anna Bjerde when she met them in Jaffna recently. Ms Bjerde met a few Anagi customers, together with other World Bank officials, Country Heads of the International Finance Corporation (IFC), Japan International Cooperation Agency (JICA), United States Agency for International Development (USAID) and Asian Development Bank (ADB) at a roundtable discussion to review the progress of the Anagi Women’s Banking portfolio, two years after the Bank launched the portfolio through an engagement with the IFC under the IFC-DFAT Women in Work programme. Shortly after the meeting, Ms Bjerde paid tribute to the passion and determination of the women entrepreneurs in a post on her Twitter Account.

Commercial Bank’s ‘Anagi Women’s Banking’ portfolio comprises of the ‘Anagi Women’s Savings Account’ and the ‘Anagi Business Loan for Women SMEs that provides female entrepreneurs with loans for working capital or investment purposes. The Bank has also launched an ‘Anagi’ branded Near-field Communication (NFC) enabled Credit Card from Mastercard in the Gold and Platinum tiers with a host of special benefits exclusively for women.

Pictured here is World Bank Managing Director Operations Ms Anna Bjerde during her interactions with the group of Commercial Bank Anagi customers and officials of the IFC, JICA,USAID and ADB in Jaffna.

July 25, 2023

Reiterating its strong culture of research, SLIIT has pioneered the first-ever comprehensive research project to empower persons with visual impairment and blindness in Sri Lanka, showcasing the need to improve their quality of life and highlighting their employability potential.

The research, undertaken by the SLIIT School of Business, was funded by the World Bank– AHEAD Research Project titled ‘Socio-economic Status and Employment Potential of Visually Impaired and Blind Persons in Sri Lanka’. The research, which comprised both qualitative and quantitative work, was carried out over a period of three and a half years, resulting in over 45 different outputs including local and international journal publications, conference presentations, and a number of dissertations including MPhil, Masters and final year undergraduate research projects.

By undertaking this research project, SLIIT’s primary objective was to address the social, economic, and overall well-being of persons with visual impairment and blindness. By understanding their needs and challenges, the project was able to develop strategies and models that could enhance their quality of life.

The study also focused on gathering data regarding the different types of visual impairments and their prevalence and distribution across the identified population. This information will assist in targeting specific areas for intervention and resource allocation. SLIIT’s research also sought to identify the skills, training, and support required for these individuals to promote their employability in the job market – thereby understanding the existing job market opportunities and potential barriers and proposing recommendations for creating inclusive employment opportunities.

Professor Theekshana Suraweera, the Research Team Leader of the project, the founder and Dean, School of Business, stated, “A research project of this magnitude, exploring the socio-economic issues of people with visual impairment and blindness, has not been conducted in Sri Lanka before and that marks a distinct milestone in recent history. The passionate support, commitment and dedication of the two research team members, Professor Samantha Thelijjagoda, Pro Vice-Chancellor (Research & International) and Professor Ruwan Jayathilaka, and Professor Suren Peter, Dean, School of Business, the research manager and other research assistants are worth special mentioning. Furthermore, several other academics and scholars who themselves are visually impaired and blind made this a unique study. We believe that this research would make a significant impact on the lives of those living with visual impairments and blindness in Sri Lanka. It also highlights SLIIT’s commitment to inclusivity, accessibility, and the promotion of equal opportunities for all.”

Overall, the SLIIT research project on visual impairment and blindness has not only contributed to the academic and research landscape but has also had a positive impact on students, faculty, and external stakeholders.

The project has significantly enhanced the overall research culture within SLIIT. Through the project, approximately six faculty members, 40 undergraduate students of SLIIT Business School and a couple of external collaborators passionate about this research discipline have participated in conducting this research study. A significant achievement in this respect is that the project supported a graduate teacher who is from a blind community, to complete his Master of Education (M.Ed.) degree. Furthermore, one faculty member in the business school also successfully completed a Master of Philosophy (MPhil) degree under the project. Another noteworthy outcome, which was brought about by the project, though not one of its core obligations, was the formation of the research working paper series at SLIIT Business School. This forum, which is open for local researchers, encourages participants to share their research findings, obtain feedback, generate new ideas, and create new connections with scholars within and outside the SLIIT community All in all, these hands-on and field-level research experiences have provided valuable learning opportunities for students, allowing them to contribute to the field and benefit from practical research experience.

The project has in many ways, helped to disseminate knowledge and create awareness among the community to the unique challenges faced by individuals with visual impairment. This exposure has raised awareness and understanding even within SLIIT, regarding the needs and perspectives of people with different impairments.

As an extra initiative, SLIIT also successfully organized a training program in collaboration with the National Apprentice and Industrial Training Authority (NAITA), which involved training of fifty three ICT trainers from all regions of the country. The workshop focused on equipping these trainers with the necessary skills and knowledge to work with individuals who are blind or visually impaired. It is interesting to note that the principal resource persons of this training of trainers were experts in ICT, who were also visually impaired and blind.

In addition to research and academic work in this discipline, the SLIIT community has also recognised the importance of working with people with visual disabilities. As a result, the SLIIT Business Scholl undergraduate students recently organised a musical event centred around social inclusion. The event brought together sighted undergraduates from SLIIT and those who are blind and visually impaired from the University of Colombo and the University of Kelaniya, not only to showcase their musical talents but to demonstrate that such diverse groups can work in harmony to achieve a noble goal. The event promoted inclusivity, empowering individuals with visual impairments, and fostering a sense of unity and collaboration among students from diverse backgrounds.

Additionally, the research project has facilitated communication and collaboration with various organizations and individuals working with the visually impaired community. Importantly, the project has strengthened SLIIT’s commitment to addressing societal challenges and promoting inclusivity in education and research.

This research project in the long run would facilitate realising the UN Sustainable Development Goals related to reducing “inequality within and among countries by empowering and promoting the social, economic and political inclusion of all, including persons with disabilities”. SLIIT Business School will continue to spearhead such pioneering initiatives, in the future as well

June 7, 2023

Ajay Banga takes on the post of the fourteenth President of the World Bank for a five-year term beginning June 2023. Mr Banga, a distinguished global leader and former Chairman of the International Chamber of Commerce (ICC), brings his new role a wealth of experience and expertise. His appointment follows a rigorous selection process conducted by the World Bank’s Executive Directors.

Ajay was a staunch advocate for equitable and sustainable economic growth during his tenure at the International Chamber of Commerce (ICC),. The ICC is the largest business organisation in the world, representing the interests of companies from various sectors and promoting international trade and investment. Mr Banga, an accomplished business executive and thought leader, has a proven track record of driving inclusive growth and economic development. He actively engaged with policymakers, business leaders, and stakeholders worldwide to advocate for policies that promote open markets, trade liberalisation, and a conducive business environment.

February 1, 2023

A high-level Delegation of the World Bank led by Axel van Trotsenburg, Managing Director of Operations, called on BGMEA President Faruque Hassan at The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Complex in Uttara, Dhaka on Monday January 2023.

The delegation included Martin Raiser, Vice President, South Asia Region, Abdoulaye Seck, Country Director for Bangladesh and Bhutan; Dandan Chen, Operations Manager for Bangladesh and Bhutan; Yutaka Yoshino, Lead Economist/Program Leader, Martin Holtmann, Country Manager, IFC Bangladesh; Elena Karaban, Manager, External Communication; Barbara Weber, Senior Operation Officer, Country Director’s Office; Mehrin Mahbub, Senior External Affairs Officer; Kimberly Versak, Senior External Affairs Officer; Ewa Sobczynska, Senior Operations Officer, Vice President’s Office; Hosna Ferdous Sumi, Private Sector Specialist, TTL Export Competitive for Jobs Project; Suhail Kassim, Senior Economist.

The present state of affairs in Bangladesh’s RMG industry including its challenges, potentials and the industry’s vision were discussed in the meeting.

They also had discussions on the possible impacts of Bangladesh’s LDC graduation particularly on the apparel sector and preparations to retain the industry’s competitiveness in the post-LDC era.

BGMEA President Faruque Hassan apprised the World Bank delegation about the future priories of Bangladesh’s RMG industry, including increased focus on moving up the value chain through innovation, product diversification, technology upgradation, and up-killing and re-skilling of the workforce to remain sustainable and cost competitive.

He also highlighted the tangible transformation of the RMG industry in the areas of workplace safety, environmental sustainability and workers’ wellbeing.

He spotlighted the importance of financing SMEs to support their development and as they often cannot avail regular financing schemes due to stringent due diligence.

Faruque Hassan called on the World Bank for supporting the SMEs with low-cost finance so that they could upgrade their capability and adopt sustainability practices, could thrive in the competitive market.

He also sought the support of the World Bank for the RMG industry in the areas of sustainability, skills development, technological upgradation, innovations.

BGMEA Vice President Shahid Azim, Vice President Miran Ali, Directors Abdullah Hil Rakib, Mijanur Rahman, Neela Hosna Ara, Chair of BGMEA Standing Committee on Press, Publication and Publicity Shovon Islam, Chair of BGMEA Standing Committee on Foreign Mission Cell Shams Mahmud and Chair of BGMEA Standing Committee on UD-Woven & Knit Md. Nurul Islam were also present at the meeting.

July 6, 2022

July 5, 2022, Colombo: We live in an era where women are a force of their own. The doors of opportunities are wide open for them to showcase their talents, abilities and their skills. Today’s digital world has provided the perfect platform for women to start their businesses. Though many women have managed to break barriers and shine in their respective fields, many are unable to do so due to various reasons.

The World Bank’s Women Entrepreneurs Finance Initiative in a recent article stated despite a high literacy rate among women in Sri Lanka, only 32 per cent are in the workforce and women own only 25 per cent of these SMEs.

However, some women have embarked on self-employment initiatives but have faced numerous challenges at numerous stages of their businesses. A key reason for this situation is the lack of technical knowledge and guidance about the digital space and digital entrepreneurship. Dialog, Sri Lanka’s premier connectivity provider, has identified this gap and as a corporate citizen who is keen to uplift and encourage the livelihoods of Sri Lankan women launched Ideamart for women (IFW), a female entrepreneurship empowerment programme specifically designed to promote digital entrepreneurship among women to improve their technical skills through the use of ICT facilities and training.

The programme has been designed with key objectives to build financial independence and increase female participation in the ICT sector. The programme is focused on building financial independence, increasing female participation and supporting training sessions and resources to digitise the business or start a digital business which will help access to larger markets. The platform has partnered with Aya, a programme by the State Ministry of Women and Child Development. The objective was to reach out to female entrepreneurs.

In addition, the Diriyen ediriyata programme is a special, and free programme and workshop developed for female entrepreneurs who are interested in starting a business, to advice from industry experts. IFW together with Techliya provides a series of free online webinars providing financial, legal and technical advice and guidance to aspiring female entrepreneurs. IFW has also taken part in Hackathons at university and school levels, targeted at female students to create interest in ICT and develop their knowledge.

Furthermore, Ideamart for women (IFW) offers a range of services to female entrepreneurs, such as providing technical knowledge and support to match the business requirements. It offers a range of developed services which can be readily plugged in without any cost – eg – SMS /marketing/payments platforms. The platform also provides marketing support and knowledge to promote the service digitally. In addition, IFW also functions as a mentor to aspiring women entrepreneurs, helping them in each of their steps towards success. IFW also offers rewards to female entrepreneurs based on their growth and progress.

Ideamart For Women offers the following platforms, Ideamart, app maker, I-buy and marketplace. With these platforms, any female entrepreneur can develop mobile solutions and mobile applications to provide unique digital solutions to their customers at no additional cost. The IFW platform also offers a fully-fledged eCommerce platform for business growth and easy advertising options to connect with customers directly.

While proving to be a perfect platform for women entrepreneurs, IFW has also received global accolades by being recognised and shortlisted for the Global Mobile Awards 2021 for a second consecutive year.

June 3, 2022

1 in South Asia/Indian Sub-Continent
3 among ports in the Indian Ocean Rim
22 among 370 ports Globally

The Port of Colombo has been ranked as the most efficient port in South Asia and the Indian Sub-Continent, 3^rd in the Indian Ocean rim and 22^nd among 370 ports globally, in the second edition of the Global Container Port Performance Index (CPPI) 2021, ranking developed by the World Bank and S&P Global Market Intelligence and Financial Services.

Summarising the report, the authors say, “…how a maritime port performs is a crucial element in the cost of international trade in a country. Unfortunately, ports and terminals, particularly for containers, can often be sources of shipment delays, supply chain disruptions, additional costs and reduced competitiveness”. They go on to state that “despite the centrality of the port to global value chains, one of the major challenges to stimulating improvement has been the lack of a reliable, consistent, and comparable basis on which to compare operational performance across different ports…. This technical report, which represents the second edition of the Container Port Performance Index (CPPI), has been produced by the Transport Global Practice of the World Bank in collaboration with the Maritime, Trade and Supply Chain division of S&P Global Market Intelligence”.

Commenting on the Port of Colombo’s ranking in the CPPI, Dr Prasantha Jayamanna, Chairman, Sri Lanka Ports Authority (SLPA), who are also the operators of the Jaya Container Terminal (JCT) and the East Container Terminal (ECT), two of the four container terminals in the Port of Colombo, stated that “The World Bank/S&P Administrative (subjective/expert) and Statistical rankings of Colombo among the top 7% of the ports in the world and the best in South Asia, is a testament to the Port’s position as the primary transhipment hub in South Asia. In addition to the valuable contribution made by our own JCT, the ranking acknowledges the significant role played by our partner terminals, Colombo International Container Terminal (CICT) and South Asia Gateway Terminals (SAGT), who together have made the port what it is today”.

Dr Jayamanna went on to say that “Given SLPA’s role as Regulator and facilitator of port development of Sri Lanka, it is important to record that the Port of Colombo will continue to develop ahead of projected demand and towards this, construction has already begun on two new deep water terminals, the East Container Terminal (ECT) by the SLPA and the West Container Terminal (WCT), by a consortium led by Adani Ports and including John Keells Holdings. These developments will progressively add over 7 million TEU of throughput capacity over the next 2-5 years.”

Also commenting on the CPPI ranking, Jack Huang, Chief Executive Officer of CICT, a member of the China Merchant Port Holdings Group, said “As the first and currently only deep-water terminal in South Asia capable of handling the largest container ships in service, we are extremely pleased to have played a major role in achieving this ranking by the Port of Colombo. CICT has won multiple accolades for exceptional performance over the past five years and we continue to offer our customers who are the world’s leading container shipping lines, a best in class service for their transhipment and gateway requirements and are committed to uplifting this on a continuous basis”.

Romesh David, Chief Executive Officer of SAGT, a consortium led by John Keells Holdings and the AP Moller Maersk Group said, “SAGT has played a catalysing role in launching and contributing to maintain Colombo’s global standing as the preeminent transhipment hub in the region. Twenty two years since it was established as the first public private partnership in the port sector in Sri Lanka, SAGTs confidence in the potential of the Port of Colombo is undiminished and is borne out by our continuing investment in new and upgraded machinery on the wharf and in the yard”.

The Port of Colombo recorded an all-time high throughput of 7.25 million TEUs in 2021 and continues its growth story, recording a year on year growth of 2% for the first 5 months of 2022 ending in May. The present terminals in the Port offer almost 4,500 meters of quay with depths ranging from 12 – 18 meters, are served by 47 Ship-To-Shore Cranes and over 130Ha of yard space. The SLPA, in addition to its role as regulator and landlord also holds 15% equity stake in the two private terminals, CICT and SAGT.

Link to CPPI: https://thedocs.worldbank.org/en/doc/66e3aa5c3be4647addd01845ce353992-0190062022/original/Container-Port-Performance-Index-2021.pdf

March 16, 2022

Colombo, Tuesday 15^th March 2022: Becoming a trusted household name within a short period of time, grocery delivery platform Celeste Daily has also been recognized by the World Bank for its entrepreneurship in times of trial. A subsidiary of Jaysons Holdings, Celeste Daily is now gearing for 2022, as it looks to expand its delivery network and add a range of new products to its portfolio.

A small team led by Janik Jayasuriya started off Celeste Daily in the thick of the pandemic when farmers were unable to get their produce to consumers.

Recalling how it all started Jayasuriya says, “When the pandemic struck we had about 30 employees at our Nuwara Eliya hotels who were out of work. We already had our own farm and vegetable plantation because we source fresh produce for the hotels from our own. We also contacted a few nearby farms and took a few lorries up to Nuwara Eliya to bring down the produce to those who needed it in Colombo. At the time I thought of it as community service and we provided the fruits and vegetables at cost as a social service.”

Deriving the name from their established hospitality brand, the next step was to make it convenient for customers in Colombo and the suburbs to place orders. An e-commerce platform was next to be set up while the orders came pouring in. Through word-of-mouth which at the time was the best form of “advertising”, Celeste Daily was being referred as the most reliable source for fresh produce.

From those humble beginnings, Celeste Daily is today a budding enterprise. Having ventured out in to creating a complete online supermarket with both local and international products, Celeste Daily now boasts an expanded warehouse and packaging facility in Colombo 5, tie-ups with Uber Eats and PickMe to reach a wider network and customers, and an extensive social media presence that has helped the brand grow.

“Today we handle thousands of deliveries a month. One of the highlights for us as a team has been the number of repeat customers who have completely placed their trust in us. Even after things have gone back to the new normal, most of our 25,000+ clients still rely on us for quality products and superior service”, Jayasuriya added.

Celeste Daily has helped many local small and medium businesses by providing them a platform to market and sell their products. Janik was also responsible for launching a unique campaign of hiring retired senior citizens to Celeste Daily who help with the office and administrative work.

With a unique approach to doing business, Celeste Daily continues to adhere to the most stringent health and safety measures and have been noted for their environmentally conscious packaging solutions as well. Celeste Daily is available every day from 7am to 11pm on Uber Eats, PickMe Market, Eat Me Global or direct by calling on 0775882525 or through www.celestedaily.lk

February 24, 2022

The remodelled Fitch Solutions Operational Risk Index provides an objective and data-driven assessment of the ease of doing business across 201 markets

LONDON, United Kingdom, February 23, 2022/APO Group/ —

Fitch Solutions (www.FitchSolutions.com), a leading provider of data, research and analytics, launched a revamped and enhanced Operational Risk (https://bit.ly/3I7Gg7v) service – providing an immediately accessible alternative to the now-discontinued World Bank Doing Business report.

The remodelled Fitch Solutions Operational Risk Index provides an objective and data-driven assessment of the ease of doing business across 201 markets, enabling users to quantify and compare business environment risks to their investments, supply chains and day-to-day operational activities.

The Operational Risk Index is also used in Fitch Ratings Bank Rating Criteria (https://bit.ly/3JHmEYa) to derive an implied Operating Environment Score for a given jurisdiction, replacing the World Bank Doing Business data that was previously used as part of the bank rating methodology.

The Index, which was developed by the Fitch Solutions Country Risk and Industry Research team, is underpinned by 90 input metrics that are updated quarterly. It is designed with full transparency in mind.

Each of the 201 markets covered is given a headline Operational Risk score out of 100 to allow for direct market-by-market benchmarking and comparison. However, the Index’s explanatory power lies in its ability to capture and quantify operational challenges via a focus on the four underlying elements of risk that combine to give the headline score: Crime and Security, Logistics, Trade and Investment, and Labour Market Risk.

The Index is available via Fitch Solutions’ online platform, Fitch Connect. Users can use interactive charting capabilities and proprietary data download tools to access and fully appraise all of the data contained in each of the four underlying risk categories. The Index captures metrics that go beyond those that were previously included in the now discontinued World Bank Doing Business report.

In addition to the Index and the data, 370 new reports will be released to provide qualitative analysis. The reports align four main areas of risk captured by the Index under the headings Crime, Defence and Security (bit.ly/3JRCjEx); Logistics and Freight Transport (bit.ly/3h7Bzi3); Trade and Investment and Education and Labour. Analysis will include, but not be limited to, coverage of crime, cyber and conflict risk; economic openness; labour costs, availability and skills; access to utilities and transport networks.

Nick Morgan, Managing Director and Head of Country Risk and Industry Research at Fitch Solutions, said: ‘’This is a timely opportunity to introduce the Operational Risk Index to clients who may have previously used the World Bank’s Doing Business data and analysis. The Operational Risk Index gives a comprehensive picture of business environment risks across 201 markets, giving users access to a more agile, extensive and transparent range of comparable metrics.”

‘’Quarterly updates of the 90 underlying metrics for each market mean that the Index and reports can be used to support a range of business activities, including risk benchmarking, business climate and supply chain analysis, investment decision making. The inclusion of the Index in the Fitch Ratings Bank Rating Criteria is in line with our commitment to ensuring our methodologies are transparent and robust.’’

Further information is available at: bit.ly/3LNDkPL

September 2, 2021

It covers the role Islamic finance can play in the infrastructure financing challenge, the major players in the global Islamic finance industry

TASHKENT, Uzbekistan, September 2, 2021/ — The Islamic Development Bank Institute (IsDBI) and the World Bank have launched a report highlighting the most important aspects of Islamic finance that relate to infrastructure public-private partnerships.

Entitled “Reference Guide: Islamic Finance for Infrastructure PPP Projects,” the report was launched during the 15th IsDB Global Forum on Islamic Finance held virtually on 28 August 2021, on the side lines of the 2021 IsDB Group Annual Meeting.

It covers the role Islamic finance can play in the infrastructure financing challenge, the major players in the global Islamic finance industry, the potential alternatives offered by Islamic finance to meet the public infrastructure financing gap, and the Islamic finance structures for infrastructure PPP projects.

The document is a timely response to the stakeholder feedback that voiced a need for augmented capacity and for diving deeper into each aspect of Islamic finance as applied to infrastructure and PPPs.

In his opening speech during the 15th IsDB Global Forum on Islamic Finance, the Chairman of the IsDB Group, H.E. Dr. Muhammad Al Jasser, welcomed the joint effort of the World Bank and the IsDB to develop the Reference Guide, explaining that: “As countries try to find sustainable and complementary sources of financing for their post-COVID-19 economic recovery, the reference guide can be a helpful tool”.

Dr. Sami Al-Suwailem, the Acting Director General of IsDB Institute, welcomed the launch of the Reference Guide as an excellent outcome of the collaboration between the IsDB and World Bank. “The document can serve as a practical tool that will help reduce costs and standardize transactions for PPP stakeholders,” he added.

The Global Director of the Infrastructure Finance, PPPs & Guarantees Group at the World Bank, Mr. Imad Fakhoury, in his keynote speech during the forum, stressed the importance of Islamic finance in mobilising private sector infrastructure financing in his keynote speech.

“Islamic Finance has a key role to play in helping developing countries, both Muslim and non-Muslim, achieve the SDGs,” he said. “It can improve the stability of the financial sector with features such as its profit-and-loss sharing arrangements and requirements for a link to the real economy through the creation of physical assets. The asset backed, ringfenced and project specific nature of Islamic finance structures and their emphasis on sharing risks, makes them a natural fit for infrastructure public private partnerships.”

The Reference Guide includes detailed Shariah-compliant PPP case studies on the Doraleh Container Terminal Project in Djibouti, Queen Alia International Airport in Jordan, the Foundation Wind Projects, Foundation Wind Energy I & II, in Pakistan and the Konya PPP Health Campus Project in Turkey. It also provides a complete set of Islamic finance template agreements as practical tools which can be applied, with modification, to a host of infrastructure projects.

Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group).

Older Posts

World Bank Managing Director Anna Bjerde Visits Bangladesh

World Bank Managing Director of Operations meets ComBank’s Anagi customers in Jaffna

SLIIT Business School Addresses the Growing Needs of Visually Impaired Individuals in Sri Lanka

Ajay Banga former Chairman of ICC becomes the 14th President of the World Bank

BGMEA seeks World Bank support for RMG industry’s Development

Ideamart, a digital gateway for aspiring women entrepreneurs

World Bank/S&P Rank Colombo as Most Efficient Port in South Asia

Celeste Daily Brings Freshness to Your Doorstep

Fitch Solutions Operational Risk Index Remodeled as Accessible Alternative to World Bank’s Doing Business Report

IsDB Institute and World Bank Launch Reference Guide on Islamic Finance for Infrastructure PPP Projects