Global investment management bank Goldman Sachs Thursday offered Bangladesh help to raise US$2.0 billion to $3.0 billion from international bond markets.
A delegation of Goldman Sachs, led by its official Jonathan Donne, met Finance Minister AMA Muhith, and gave the proposal.
Prime Minister's Economic Adviser Dr Mashiur Rahman, Energy Adviser Dr Towfiq-e-Elahi Chowdhury, Bangladesh Bank Governor Dr Atiur Rahman, and Finance Secretary Mahbub Ahmed were present in the meeting.
"The officials of Goldman Sachs offered us help for raising money from the global bond markets, if we want. Presently the interest rates of bond market loans are from 7.0 per cent to 9.0 per cent," Mr Muhith told newsman after the meeting.
Quoting the officials he also said they can even help raise $5.0 billion, if Bangladesh wants.
The finance minister said the government is yet to take any decision regarding the proposal of Goldman Sachs. A multinational bank also came with the same proposal earlier.
He also said Bangladesh did not make any application for raising money from the bond markets.
"In late 2011 we discussed the issue among us. After that we scrapped the plan. But now I want to revive the plan, at least to have meetings with others, including the prime minister, in this regard."
Regarding the amount Bangladesh might need from the bond markets, he said, "We want zero to any amount. Because, we have good foreign currency reserve. We may spend bond loan in Padma Bridge construction."
He said this year some Tk 8.0 billion has been kept as budgetary support for the Padma Bridge project. "We won't face any problem, if the reserve rises further."
"We can build the bridge from our foreign currency reserve. It is good to have a handsome reserve."
Mr Muhith said discussions will be held with the World Bank (WB) and the Asian Development Bank (ADB) before entering the bond markets for loan, because they (WB and ADB) are Bangladesh's main financers.
"Their response is very important for us. In case of Africa they welcomed the decision of going to the bond markets, and they continued their programmes there. For us the reaction may be same."
The minister, referring to the Goldman Sachs officials, also said at present the global economy is at a stable position. So, the rates of interest in the bond markets are comparatively low.
The rates may go up in three to four years. It is the exact time to go to the bond markets for loan, he added.
