Infrastructure Development Company Limited (IDCOL)
Infrastructure Development Company Limited (IDCOL) was established on 14 May 1997 by the Government of Bangladesh. The Company was licensed by the Bangladesh Bank as a non-bank financial institution (NBFI) on 5 January 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.
At the 2009 UN Climate Change Conference in Copenhagen, the developed countries committed to jointly mobilize 100 billion USD a year by 2020 to address the needs of developing countries and to help them adapt to climate change and grow in a climate-compatible manner. The new Green Climate Fund (GCF) will play a key role in the process and a significant portion of this commitment will flow through this funding entity.
On 6th July 2017, GCF approved IDCOL to become the 1st Direct Access Entity (DAE) from Bangladesh. As an accredited entity, IDCOL is able to access the GCF fund directly for any climate change mitigation/adaptation project to be implemented in Bangladesh. The fund can be channeled to private/public sector entity or through private sector banks and financial institutions. IDCOL is accredited for GCF funding instrument of “Senior Loan” & “Grant” and is able to receive up to 250 million dollars for each GCF project.
Credit Rating has been made as general information purpose. IDCOL has been rated by the Credit Rating Agency of Bangladesh (CRAB).
IDCOL’s recent credit rating is conducted by the Credit Rating Agency of Bangladesh (CRAB), which has assigned the Company “AA1” rating for the long-term and “ST-1” rating for the short-term. This implies that IDCOL has strong capacity with regard to timely repayment of its financial obligations with very low credit risks.
The new Green Climate Fund (GCF) will play a key role in the process and a significant portion of this commitment will flow through this funding entity.