Dhaka, Bangladesh (BBN)- The Private Sector Foreign Loan/Supplier's Credit Committee has approved US$152.8 million foreign loan for five projects.
Of the total amount, $100.0 million was approved for Airtel Bangladesh Limited, $30.0 million for Acron Infrastructure Services Limited, $5.30 million for Confidence Salt Limited, $15.0 million for Natore Agro Limited and others for readymade garments sector.
The approval came at the 61st meeting of the Scrutiny Committee for the approval of foreign loan held at the Bangladesh Bank on Tuesday.
Bangladesh Bank Governor Atiur Rahman, who is also the convenor of the committee, presided over the meeting.
Committee members, including representatives from the Prime Minister's office, Ministry of Finance, Ministry of Commerce, Ministry of Industries, Board of Investment and officials of the committee secretariat were also present.
The highest interest rate of the approved projects is 6-month LIBOR+4.00 percent, the effective interest rate is within 4.581 percent. The committee was informed that more foreign financing proposals are in the pipeline.
The committee hoped that this type of foreign financing will be helpful in keeping the foreign exchange rate stable and will impact positively on the Balance of Payments (BoP) situation of the country.
Besides, there will be a significant increase at the level of job opportunity following these foreign investments, the committee noted.
BBN/SSR/AD-08Feb12-10:20 am (BST)
