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Bangladesh Insurance Sector Development Project - P156823
Bangladesh Insurance Sector Development Project - P156823
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 Last update: Apr 30, 2025
Last update: Apr 30, 2025
Bangladesh Insurance Sector Development Project - P156823

Details

Project End Date:
2024-08-30
Location:
Bangladesh
Bangladesh
Category:
Goods, Works, Consulting services, Non-consulting services
Status:
Completion and evaluation
Sectors:
Organizational development, Financial Services & Audit
Languages:
English
Contracting authority:
IDRA - Insurance Development and Regulatory Authority (Bangladesh)
Funding Agency:
World Bank HQ
Contracting authority type:
Government agency
Eligibility:
Unknown
Budget:
USD 62,148,334
Date posted:
Nov 4, 2015

Attachments • 5

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Associated Awards

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Associated tenders • 2

Status

Date

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Project cycle timeline

STAGES
EARLY INTELLIGENCE
PROCUREMENT
IMPLEMENTATION
Cancelled
Status
Programming
Formulation
Approval
Forecast
Open
Closed
Shortlisted
Awarded
Evaluation
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Description

Updated on May 4th, 2018:

Bangladesh Insurance Sector Development Project

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

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Updated on March 28th, 2018:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

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Updated on February 16th, 2018:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

-------------------------------------

Updated on January 15th, 2018:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

-------------------------------------

Updated on December 28th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

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Updated on November 27th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

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Updated on October 19th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------------------

Updated on September 28th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

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Updated on August 24th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------------------

Updated on July 14th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEO PLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------------------

Updated on June 19th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEO PLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------------------

Updated on May 31st, 2017:

(R) Bangladesh Insurance Sector Development Project

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Approval completed on 20 March 2017. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEO PLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

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Updated on April 25th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------------------

Updated on March 16th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------------------

Updated on February 10th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------------------

Updated on January 4th, 2017:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

-------------------------------------------------------------------------

Updated on December 19th, 2016:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------------------

Updated on November 7th, 2016:

Bangladesh Insurance Sector Development Project

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 65.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

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Updated on November 2nd, 2016:

Bangladesh Insurance and Private Pension Market Development Project

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance and private pensions in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 80.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

-------------------------------------------------------

Updated on September 30th, 2016:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance and private pensions in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 80.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.

------------------------------

Updated on August 24th, 2016:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance and private pensions in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 80.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH, Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA), Contact: M. Shefaque Ahmed, Chairman.
-------------

Updated on July 8th, 2016:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance and private pensions in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 80.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH Tel: 88029576013, E-mail: [email protected], Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA) Tel: 88029565528, E-mail: [email protected], Contact: M. Shefaque Ahmed, Chairman.

------------

Updated on June 6th, 2016:

The project development objective is to strengthen the institutional capacity of the regulator and state-owned insurance corporations and increase the coverage of insurance and private pensions in Bangladesh. Negotiations authorized on 9 May 2016. Environmental Assessment Category C. Project: P156823. US$ 80.0 (IDA Credit). Consultants will be required. Peoples Republic of Bangladesh Tel: 88029576013, E-mail: [email protected], Contact: Mr. Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA) Tel: 88029565528, E-mail: [email protected], Contact: M. Shefaque Ahmed, Chairman.

-------------

Updated on May 6th, 2016:

23.The proposed project development objective is to build the capacity of key market players to increase the outreach of the insurance and private pension markets in Bangladesh. This will be achieved through strengthening the capacity of the regulator, modernizing and strengthening the operations of the state-owned insurance companies, and developing a new voluntary private pension scheme in Bangladesh. Concept completed on 6 April 2016. Environmental Assessment Category C. Project: P156823. US$ 80.0 (IDA Credit). Consultants will be required. PEOPLE'S REPUBLIC OF BANGLADESH Tel: 88029576013, E-mail: [email protected], Contact: Md. Eunusur Rahman, Secretary; Insurance Development and Regulatory Authority (IDRA) Tel: 88029565528, E-mail: [email protected], Contact: M. Shefaque Ahmed, Chairman.

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Updated on April 26th, 2016:

Objective to be Determined. Identification completed on 17 August 2015. Environmental Assessment Category C. US$ 80.0 (IDA Credit). Consulting services to be determined. Implementing agency(ies) to be determined.
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Updated on March 11th, 2016:

Objective to be Determined. Identification completed on 17 August 2015. Environmental Assessment Category C. US$ 80.0 (IDA Credit). Consulting services to be determined. Implementing agency(ies) to be determined.
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Updated on February 23rd, 2016:

Objective to be Determined. Identification completed on 17 August 2015. Environmental Assessment Category C. US$ 80.0 (IDA Credit). Consulting services to be determined. Implementing agency(ies) to be determined.
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Updated on January 14th, 2016:

Objective to be Determined. Identification completed on 17 August 2015. Environmental Assessment Category C. US$ 80.0 (IDA Credit). Consulting services to be determined. Implementing agency(ies) to be determined
-----------

Updated on January 4th, 2016:

Objective to be Determined. Identification completed on 17 August 2015. Environmental Assessment Category C. US$ 80.0 (IDA Credit). Consulting services to be determined. Implementing agency(ies) to be determined.
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Updated on November 18th, 2015:

Objective to be Determined. Identification completed on 17 August 2015. Environmental Assessment Category C. US$ 80.0 (IDA Credit). Consulting services to be determined. Implementing agency(ies) to be determined.
----------

Objective to be Determined. Identification completed on 17 August 2015. Environmental Assessment Category C. US$ 80.0 (IDA Credit). Consulting services to be determined. Implementing agency(ies) to be determined.

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About the Funding Agency

The World Bank (USA) is part of an international financial agency that makes loans and grants to governments in low- and middle-income countries to fund capital projects. The United States was a driving force behind the founding of the World Bank in 1944 and it is still the World Bank's largest shareholder today.

The United States contributes to tackling critical international development concerns through the World Bank Group and has a long history of generously supporting the objectives of the World Bank Group and has been a champion of the International Development Association (IDA) which provides low-interest loans and grants to the world's poorest countries. The key U.S. priorities at the World Bank include a multilateral health and economic response to COVID-19, debt sustainability and transparency, promoting governance and fighting corruption, ending energy poverty and supporting a strong emphasis on accountability, transparency and development impact.

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About the Sectors

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Covers financial, banking, insurance, investment, and audit services related to the management, transfer, and oversight of financial resources.


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Bangladesh

Bangladesh has undertaken extensive infrastructure expansion - including bridges, metro systems, ports and power plants - to sustain rapid industrial and export-led growth. Improved logistics and electricity access have strengthened manufacturing competitiveness, particularly in garments. Large-scale public investment and external financing have underpinned this transformation. Strengthening financial governance, climate resilience and urban infrastructure management will be critical for continued progress.

Nr. of tenders: 26678
Nr. of grants: 3412
Nr. of donors: 596
Nr. of jobs: 120
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