MoU Signed with Australian Non-Govt Development Initiative

Bangladesh High Commission in Canberra and Cross Sector Development Partnerships Initiative (XSPI) have signed a MoU in collaboration to complement the existing Australian government development assistance.

Identifying potential project opportunities, ventures, and areas of collaboration of mutual interests and network with stakeholders through a process of non-binding consultation are the main purpose of the MoU, according to a press release received here today.

The MoU, signed on Monday in Canberra, will be valid for five years and initially four priority sectors including Ready-made Garments, infrastructure, energy and power, health and private capital investment have been identified.

The XSPI is a recent Australian non-government initiative to increase the amount and impact of international development assistance in Asia and the Pacific through focused cross sector collaboration between its five key sectors contributing sectors and national partners.

The High Commission's collaboration with XSPI being purely consultative in nature will create no financial implications and decision-making role in each other's activities, the release said.