Dhaka, Bangladesh (BBN) – The Board of Investment Scrutiny Committee for Approval of Foreign Loan/Supplier’s Credit approved borrowing of US$60 million foreign loan for 7 projects.
The approval was given in its 77th meeting held on Sunday with Bangladesh Bank (BB) Governor Atiur Rahman in the chair.
Other members of the committee including representatives of the Prime Minister Office, Ministry of Finance, Ministry of Commerce, Ministry of Industries, Board of Investment and officials of the committee secretariat were also present.
Of the $60 million, the committee cleared borrowing of $32.0 million for the ACME Laboratories Limited, $10.0 million for Renata Limited, $8.0 million for Aswad Composite Limited, $4.1 million for Cutting Edge Industries Limited, $ 1.2 million for MBM garments Ltd, $ 3.0 million for Cosmopolitan Industries Limited and $ 1.4 million for Dan Foods Ltd.
The committee approved foreign loan of US$ 1490 million in 2012 and US$ 819 million in 2011.
Bangladesh Bank officials informed the committee that more foreign financing proposal is under processing and close consideration for the approval.
The committee hoped that this type of foreign financing will be helpful to keep the dollar price stable.
BBN/SSR/AD-29July13-9:16 pm (BST)