Dhaka, Bangladesh (BBN) – A government committee has approved proposals from eight private companies to take $80 million in loan from foreign sources, officials said.
The private sector foreign loan/suppliers’ credit committee, headed by Bangladesh Bank governor Atiur Rahman, approved the proposals at a meeting at the central bank headquarters in Dhaka on Tuesday.
Robi Axiata will take $29.6 million while Incepta Pharmaceuticals will take $10 million, Holsim Cement $7 million, Envoy Textile $10 million, Everest Power Generation $12 million, Faisal Spinning Mills $6.36 million, A&A Aviation $2.75 million and Good Rich Sweaters $2.22 million.
The highest interest rate of the loan is 3-month LIBOR (London Inter Bank Offered Rate) plus 4.70 per cent per, according to the BB.
Other members of the committee, including representatives from Prime Minister’s Office, finance, commerce and industries ministries, Board of Investment and officials of the committee secretariat were also present at the meeting.
The committee had approved foreign loans worth $1.49 billion in 2012 and $819 million in 2011.
The committee hoped that this type of foreign financing would be helpful to keep the dollar price stable.
BBN/SSR/AD-09Jan13-10:32 am (BST)
