IDCOL wins Green Leaders of Bangladesh 2022 Award

Infrastructure Development Company Limited (IDCOL) has been honoured with the “Green Leaders of Bangladesh 2022 Award” for its immense contribution to building an environmentally sustainable and green society through innovative green financing.

State Minister for Planning Dr Shamsul Alam was present at the prize-giving ceremony as the chief guest on Monday, said a press release. The award ceremony was organised by Green Tech Foundation Bangladesh where IDCOL was awarded under the Green Finance and Infrastructure category.

IDCOL Executive Director and CEO Alamgir Morshed said “This award is a recognition of IDCOL's relentless effort to promote, finance and engage the private sector in infrastructure, renewable energy and energy efficiency projects to ensure sustainable and inclusive growth of Bangladesh." 

IDCOL is a unique example of a public-private partnership run by professional management under the strong and dynamic leadership of its board members which comprises senior government officials and leading private sector entrepreneurs, he said. 

IDCOL was established on May 14, 1997 by the government. The company was licensed by the Bangladesh Bank as a non-bank financial institution (NBFI) on January5, 1998.

Since its inception, IDCOL is playing a major role in bridging the financing gap for developing medium to large-scale infrastructure and renewable energy projects in Bangladesh.

The company now stands as the market leader in private sector energy and infrastructure financing in Bangladesh.

IDCOL is managed by an eight-member independent board of directors comprising four senior government officials, three representatives from the private sector and a full time executive director and chief executive officer.

It has a small and multi-skilled work force comprising financial and market analysts, engineers, lawyers, IT experts, accountants and environmental and social safeguard specialists. IDCOL's stakeholders include the government, private sector, NGOs, multilateral and bilateral institutions, academics and the people of Bangladesh at large.