Education is a very influential factor for development of a nation. For this, it needs quality education and to ensure it interrelationship among the factors of education is very crucial. This paper explores the contribution of Higher Education Quality Enhancement Project (HEQEP) in ensuring quality education at higher level in Bangladesh. Precisely, it tries to find out the answer of the questions: To what extent HEQEP contributes to quality education development in Bangladesh and what has it brought impact on education governance to ensure quality education in the country? Primarily, it is revealed that, despite many criticisms, this project has brought positive impact in terms of physical and visible development at higher educational institutions in the country. But in terms of governance, it creates complexities in many cases. In addition, it also contributes generating negative impact on the factors of education, for example, interpersonal relationship among the faculty members. Moreover, there are many other issues which are derived as consequences of the project. This paper also puts forward some policy implications in this regard. 

However, this study is followed by qualitative in nature of research method and based on case study. In addition, personal experiences and observations have also been taken into account to prepare it. Therefore, both primary and secondary data have been used to make this paper presentable.