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Infrastructure Development Company Limited

autonomous · verified (verified 2026-05-17)

Profile

Head
Alamgir Morshed
Role
Managing Director
Annual budget
—
Staff
400
Established
1997
Legal basis
Incorporated under the Companies Act 1994 on 14 May 1997; licensed by Bangladesh Bank as a non-bank financial institution (NBFI) on 5 January 1998

IDCOL has financed over 650 MW of Bangladesh's renewable energy capacity to date, including 192 MW of rooftop solar, 206 MWp of grid-tied utility-scale solar, and 40 MWp of solar irrigation; SHS program delivered 4.13 million units to 18 million rural people since 2003 (formal sales ended 2018), against an original 6-million-unit target; rooftop pipeline stands at 300 MWp target by June 2026 with Tk 13 billion total investment; AIIB $200 million multi-sector on-lending facility (March 2022) and GCF DAE status ($256.4 million approved) underpin the current financing envelope; 6 GWp five-year renewable financing target announced.

Recent activity

Provenance & notes

IDCOL was incorporated on 14 May 1997 and licensed as an NBFI by Bangladesh Bank on 5 January 1998. It is government-owned with an eight-member board chaired ex officio by the Secretary of the Economic Relations Division (ERD), Ministry of Finance; the task specifies parent_id_ref as Financial Institutions Division (FID) consistent with FID's NBFI oversight mandate under the Financial Institutions Act 1993. Both ERD (equity ownership, board chairmanship) and FID (NBFI regulatory oversight) have jurisdiction; FID is used as parent per task specification. Former chairman Md. Shahriar Kader Siddiky (ERD Secretary) was transferred to the Ministry of Public Administration on 26 March 2026 and replaced as ERD Secretary by SM Ebadur Rahman; IDCOL board website still lists Siddiky as of verification date, indicating board composition not yet updated publicly. Alamgir Morshed appointed MD/CEO on 27 March 2022 (previously MD and Head of Financial Institutions, Standard Chartered Bank Bangladesh); his title on the IDCOL management page is 'Managing Director' (not 'Executive Director and CEO' as in some press releases -- both terms refer to the same position). SHS figure of '6 million+' cited in the task prompt refers to the original programme target of 6 million units by 2021; verified installed figure to January 2019 is 4.13 million units (18 million beneficiaries, 220 MW estimated capacity) -- formal SHS sales ended 2018. The programme remains the world's largest off-grid solar electrification initiative and a global model. Rooftop solar: 192 MW financed as of November 2025; 300 MWp target by June 2026 with Tk 13 billion total investment. IDCOL finances ~50% of Bangladesh's total renewable energy capacity (650+ MW). AIIB $200 million on-lending facility signed March 2022. GCF DAE status: $256.4 million approved. Staff count of 400+ is from Wikipedia sourced to IDCOL; exact sanctioned headcount not published. Annual profit and budget figures not publicly disclosed in recent period.

Sources