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Palak discusses DEIED project with World Bank

State Minister for Information and Communication Technology (ICT) Junaid Ahmed Palak held a bilateral meeting with senior officials of the World Bank at it’s head office in Washington DC yesterday.

During the meeting, the parties discussed in detail various issues related to the IT sector, especially the Digital Entrepreneur and Innovation Ecosystem Development (DEIED) project funded by the World Bank, a press release of the ministry said on Saturday, BSS reports.

It was stated in the meeting that under the project, a global standard acceleration program will be launched for 1,000 start-ups, including assistance to increase mentorship and venture capital.

The meeting also stated that a 125,000-square-foot “Leadership in Energy and Environmental Design” (LEED) certified Green Sewage Treatment Plant (STP) will be set up in city’s Karwan Bazar for IT companies and start-ups, said the release.

In order to strengthen the entrepreneurial supply chain, innovation hubs will be set up in about 10 universities, and 3,000 IT professionals will be trained to develop high quality capabilities, the discussers said during the meet.

Alexander Pankov, Lead Financial Sector Specialist of the World Bank, Andres Garcia, Deputy Manager for FCI South Asia and Professor Rami Galal, Economist were present at the meeting among others.