The FINANCIAL -- The Bangladesh Investment Climate Fund, managed by IFC, a member of the World Bank Group, has helped the government of Bangladesh develop a wide range of e-governance services as part of its effort to achieve a digital Bangladesh.

These services, which promote the automation of critical government support services that pave the way for a better investment climate, were showcased at the Digital Public Innovation Fair this week.  

"Through the Bangladesh Investment Climate Fund, IFC helped the Bangladesh Board of Investment create an online registration system and a new Web site launched at the fair. The Web site will support the interests and needs of foreign and local investors and eliminate steps in the registration process. It provides international business investors with the information, contacts, and service commitments they need," IFC said.

An electronic library featuring the latest versions of all business-related laws, acts, rules and regulations, licenses, and forms was also showcased. The online library will make it easier and inexpensive for smaller businesses from all over the country to find relevant rules and regulations. This will not only improve transparency, accountability, and access to information, but also help reduce regulatory transaction costs and risks.

Another product that was highlighted was the Bangladesh Code, which contains all existing Acts of Parliament, Ordinances, and President’s Orders in force since 1836. IFC is helping the Ministry of Law, Justice and Parliamentary Affairs raise awareness about the code, which is now online.

IFC also supported the Ministry of Land’s modernization efforts by helping develop a digital land survey and a land management and information system.
 
James Crittle, Head of the Bangladesh Investment Climate Fund, said, “Our efforts in helping the Bangladesh government implement e-governance services are geared to enhance the interface between government and private sector and to promote investments, business growth, and job creation. Such projects are especially meaningful in a country like Bangladesh, where millions of people live in remote, rural areas and are unable to access basic services.”

The Bangladesh Investment Climate Fund is managed by IFC, in partnership with the United Kingdom’s Department for International Development and the European Commission.  

IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with IBRD, it is currently seeking a capital increase to strengthen its ability to create opportunity for the poor in developing countries—including by advising governments on regulatory reforms that will promote doing business.

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