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The Financial Express

Four export sectors to get $40m government grant to overcome infrastructural limits

| Updated: December 09, 2020 08:38:20


Four export sectors to get $40m government grant to overcome infrastructural limits

The government will launch a new financial grant worth US$40 million on Wednesday to help four export-oriented sectors address the infrastructural constraints.

The Public Investment Facility for Infrastructure Constraints (PIFIC) fund will roll out under the Export Competitiveness for Jobs (EC4J) project, implemented by the commerce ministry with support from the World Bank Group.

The PIFIC, a cluster-based facility will be distributed to address infrastructure-related setbacks in export-oriented leather and leather goods, footwear, plastics, and light engineering sectors, EC4J project director Md Obaidul Azam said.

He was speaking while addressing at a workshop organised by Economic Reporters’ Forum (ERF) held Tuesday at its conference room in the city.

EC4J deputy project directors Md Abu Sayed Joarder and Sheikh Mohammad Abdur Rahman, project manager Md Lutfur Rahman, PIFIC team leader Shobuz A Ikbal, ERF President Sharmin Rinvi, and its general secretary SM Rashidul Islam, among others, were present at the workshop.

The $40 million PIFIC facility is expected to cover 15 to 20 infrastructure projects within industrial clusters of the selected sectors across the country, Mr Azam said.

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