Mutual Funds Association announces 'Bangladesh Impact Fund - South Region'

The Association of Asset Management Companies & Funds (AAMCMF) has announced plans to launch an impact fund to finance food security, healthcare, green initiatives and digitization of small and micro business activities in Khulna, Gopalganj and other Southern districts of Bangladesh, according to a statement by the association.

The proposed alternative investment fund "Bangladesh Impact Fund - South Region '' will have a target size of Tk200 crore and can become larger with success, Dr Hasan Imam, president of AAMCMF said at an event held at Khulna Chamber of Commerce on Saturday.

Impact funds are collective investment tools that eye positive impacts of their private investments in terms of socioeconomic development and sustainability.  

While speaking as a special guest the leader of Bangladeshi asset management community also announced that similar impact funds would be launched for other regions of the country through discussion with the local business communities.

Sheikh Salauddin Jewel, Member of Parliament for the Khulna-02 constituency presided over the session and presented how the Padma Bridge opened the avenues for the southern region's economic development.

"Not only has the bridge opened a new era in commerce for the South, but the government has also funded numerous development initiatives in health care, agriculture and infrastructure in Southern districts," said the lawmaker.   

Hasan Imam said the capital market has an enormous role to play in regional development across Bangladesh and he encouraged local businessmen to participate in the capital markets through investments and building dividend generating businesses.

"Such timely private sector funds with your participation will be a win-win for the nation, its people and the capital markets. We stand ready to do our part", he added.