Dhaka, Bangladesh (BBN) – Signing of Master Facility Agreement (MFA) has been executed between United Commercial Bank Limited (UCBL) and Bangladesh Bank for eligibility of UCBL to participate in the Investment Promotion & Financing Facility (IPFF) Project as Participating Financial Institution (PFI) at Bangladesh Bank on Wednesday.
Mr. Md. Abul Quasem, Deputy Governor of Bangladesh Bank and Mr. M. Shahjahan Bhuiyan, Managing Director of UCBL signed the Master Facility Agreement (MFA) on behalf of their respective organizations, a central bank statement said on Thursday.
A.K.M. Abdullah, Financial Sector Specialist from World Bank; Husne Ara Shikha, Joint Director; Rathin Kumar Paul, Deputy Director; Goutam Kumar Ghosh, Deputy Director; Muhammad Monzur Hossain, Assistant Director of IPFF Project Cell from Bangladesh Bank; M. Shahidul Islam, Additional Managing Director; A.S.M Arif, SVP & Head of Structured Finance Division; Md. Sabbir Hossain, FAVP & Head of Loan Syndication of SFD from UCBL; and other senior officials of the organizations were present in the program.
After the signing, UCBL will be eligible to finance in both USD and BDT denominated currency at lower cost to its clientele under IPFF in the large scale infrastructural projects in different sectors like Power generation, transmission and distribution and services; Port development (sea, river and land); Environmental, industrial and solid waste management; Highways and expressways including flyovers; Water supply and distribution sewerage and drainage; Industrial estates and park development etc through which contribution of UCBL towards economic development of the country will be augmented.
BBN/SSR/AD-05July12-5:29 pm (BST)