Dhaka, Bangladesh (BBN) - The private sector foreign loan and supplier's credit committee, in its 65th meeting on Sunday, approved a total of US$ 196.4 million foreign loan against four projects.
Among the loans, $170.0 million was approved for Orascom Telecom Bangladesh Limited, $15.0 million for DBL Group Limited, $4.0 million for IL Bangla Limited, and $7.4 million for Uttara Foods and Feeds Limited.
The highest interest rate for the loans is 3-month LIBOR (London inter-bank official rate) + 4.20 per cent, that is within 4.67 percent, officials said.
Bangladesh Bank (BB) Governor and Convenor of the committee Atiur Rahman presided over the meeting. The committee members, including representatives of the Prime Minister's Office, the Ministry of Finance, the Ministry of Commerce, the Ministry of Industries and the Board of Investment and officials of the committee secretariat, were present.
Officials informed the committee that more foreign financing proposals are under processing and consideration for approval.
The committee hoped that such foreign financing will be helpful to keep the US Dollar price stable in local market, improve the country's balance of payment situation, and create more job opportunities in the country.
BBN/SSR/AD-09July12-10:14 am (BST)
