US Department of State’s Coordinator on Global Anti-Corruption Richard Nephew has discussed the use of the “Blue Dot Network” to bring transparency to investment or financing of large infrastructure projects in Bangladesh.
He met Foreign Secretary Masud Bin Momen on Monday and discussed the issue, among others.
“They tried to say that when investment or large infrastructure projects are undertaken, then there is a ‘Blue Dot Network’, where financing is considered taking into account various aspects of the project. So, maybe such a situation will come in the future (for Bangladesh) and we should keep preparations for that,” the foreign secretary said after the meeting.
The Blue Dot Network is a mechanism to certify infrastructure projects that meet robust international quality standards.
The United States, Japan, Australia, the United Kingdom, and Spain launched the Blue Dot Network as a multilateral effort to promote principles of sustainable infrastructure development around the world, according to the US government.
“The Blue Dot Network aims to promote quality infrastructure investment that is open and inclusive, transparent, economically viable, Paris Agreement aligned, financially, environmentally and socially sustainable, and compliant with international standards, laws, and regulations.”
* Richard Nephew meets Foreign Secretary Masud Bin Momen
* Blue Dot Network is a mechanism to certify infrastructure projects
* US, Japan, Australia, UK, and Spain launched the mechanism
It works to raise money from investors by certifying projects to strict quality standards.
Richard Nephew, known as an American sanction expert, arrived in Dhaka on Sunday. He met the Anti Corruption Commission (ACC) officials on his arrival.
Secretary of State Antony Blinken, while announcing his appointment on July 5, said: “Richard’s experience and dedication will be an asset to our efforts worldwide to address transnational corruption and kleptocracy, key components of the White House Strategy on Countering Corruption.”
His visit came at a time when the US was the centre of Bangladesh’s political attention ahead of the general elections to be held by January next year.
The US imposed sanctions on the elite police force Rapid Action Battalion (RAB) and announced a new visa policy for those who would stand in the way of holding free and fair elections.
The United States will host the 10th Conference of the States Parties (COSP) of the UN Convention against Corruption (UNCAC) in Atlanta, Georgia from December 11-15.
Richard Nephew invited Bangladesh to attend the conference which is the preeminent global forum focused on implementation of the anti-corruption commitments enshrined within the treaty.
It will convene the 189 states parties to the UNCAC, as well as a variety of civil society stakeholders from around the world to focus on ways to advance anti-corruption obligations and policy priorities.
The meeting will also mark the 20th anniversary of the UNCAC.