IFC Promotes Growth of Light Engineering Sector in Bangladesh

Dhaka, Bangladesh, June 2008—IFC, a member of the World Bank Group, is working with the Bangladesh’s Light Engineering Product and Business Promotion Council and the Bangladesh Electrical Merchandize Manufacturers Association to organize a seminar to help facilitate collaboration among industry stakeholders and support local small and medium enterprises.

A three-day program at the Pan Pacific Sonargaon, Dhaka from June 26th until June 28th entitled Bangladesh Electrical Fair 2008, will share insights about the light engineering sector and reinforce IFC’s commitment to helping small and medium enterprises in the sector grow and become more competitive globally. This event is being organized with the help of IFC Advisory Services for South Asia – the SouthAsia Enterprise Development Facility.

In Bangladesh, the nascent light engineering sector employs about 800,000 people, and smaller businesses are not able to benefit from it because they do not operate under a unified vision or an integrated approach. The program will address these issues and the potential financial benefits of integrating modern technologies such as light engineering into the SME sector. There will also be a forum that will bring together local industry buyers and sellers.

“This program is part of IFC’s initiative to promote and develop Bangladesh’s light engineering sector by facilitating effective business linkages. Networks and knowledge sharing are invaluable contributors to the growth of SMEs,” said Deepak Adhikary, Deputy General Manager and Head of IFC Advisory Services in Bangladesh, Bhutan, and Nepal.