Peter Haas optimistic of Bangladesh's qualifying for DFC
DHAKA, May 11, 2022 (BSS) - US Ambassador Peter Hass has expressed his optimism that Bangladesh would be able to qualify for accessing US's Development Finance Corporation (DFC) to get more US trade and investment.
"We hope that Bangladesh will soon make progress on labor rights and workplace safety so it can qualify for DFC and attract more US trade and investment," he said.
The envoy was addressing an event titled "US-Bangladesh Business Forum: Building on 50 Years of Friendship" held in a city hotel on Tuesday night hosted by HSBC Bangladesh, in partnership with the US-Bangladesh Business Council.
The ambassador said Bangladesh had lost access to the GSP facilities as well as missed out on a massive source of investment capital offered by DFC that was established by Congress with a $60 billion investment authorization.
He said DFC partners with US businesses to develop projects in sectors such as energy, healthcare, critical infrastructure, and technology.
The envoy said the DFC would be an ideal financing source for projects in Bangladesh but until Bangladesh qualifies for GSP it cannot qualify for DFC financing.
"The United States is willing to go as fast as Bangladesh is to deepen our partnership ... I also truly believe we can go fastest together in building our trade and investment relationship," he said.
Haas said this US-Bangladesh Business Delegation demonstrates just how ready the US private sector is to invest their time and energy in Bangladesh.
In another panel discussion, State Minister for Foreign Affairs Md Shahriar Alam, Principal Secretary to the Prime Minister Ahmad Kaikaus and commerce secretary Tapan Kanti Ghosh also spoke.