Bangladesh Municipal Development Fund (BMDF)

Bangladesh Municipal Development Fund (BMDF) is a company formed under the Ministry of Finance of the Government of Bangladesh in 1999. The administrative authority of BMDF is now vested with the Bank and Financial Institutions Division created recently under the Ministry of Finance. The BMDF was registered in 2002 under the Companies Act, 1994. The BMDF is guided under the Memorandum and Articles of Associations. The Memorandum of Association defines the Primary and ancillary objectives of... Read More

Bangladesh Municipal Development Fund (BMDF) is a company formed under the Ministry of Finance of the Government of Bangladesh in 1999. The administrative authority of BMDF is now vested with the Bank and Financial Institutions Division created recently under the Ministry of Finance. The BMDF was registered in 2002 under the Companies Act, 1994. The BMDF is guided under the Memorandum and Articles of Associations. The Memorandum of Association defines the Primary and ancillary objectives of the Company. The primary objectives, among other are (i) to extend financial support to the City Corporations and Pourashavas (Municipalities) referred to collectively as Urban Local Government Bodies (ULBs) with a view to strengthening their institutional and financial capacity to plan, finance, implement and operate infrastructure services; (ii) to procure, arrange, secure, receive and accept loans, aid, grants, and donations from any lawful source and to create a fund thereof and make available the same for utilization by ULBs; (iii) to provide and render financial and technical assistance and advice to ULBs seeking to develop infrastructure investment projects on a self selecting basis; (iv) to initiate and undertake appropriate training for company personnel as well as for staff of ULBs to promote greater efficiency on the part of company as well as to ensure better understanding by ULBs’s staff of the company’s procedures and operational requirements, particularly issues pertaining to, inter alia, lending and financial policies, eligibility criteria , and procurement. The Articles of Association are the detailed legal instruments to guide as to how the company would carry out its day to day activities. The main purpose of BMDF is to bring about qualitative improvement of urban livelihood through infrastructure development and environment improvement. The eventual target of BMDF is to assist the ULBs becoming self-sufficient and independent.

Bangladesh Municipal Development Fund (BMDF) is a company formed under the Ministry of Finance of the Government of Bangladesh in 1999. The administrative authority of BMDF is now vested with the Bank and Financial Institutions Division created recently under the Ministry of Finance. The BMDF was registered in 2002 under the Companies Act, 1994. The BMDF is guided under the Memorandum and Articles of Associations. The Memorandum of Association defines the Primary and ancillary objectives of... Read More