A government committee Thursday approved US$243.31 million foreign loan for 12 private sector projects, a press release said.
The approval came at the 83rd meeting of the Board of Investment Scrutiny Committee for approval of foreign loan/ supplier's credit at the Bangladesh Bank with Governor Dr Atiur Rahman in the chair.
The approved loans are: $64.8 million for Summit Meghnaghat Power Company Ltd, $25 million for Summit Bibiyana II Power Company Ltd, $35 million for CEAT Bangladesh Ltd, $50 million for Airtel Bangladesh Ltd, $9.0 million for Edible Oil Ltd, $26 million for United Ashuganj Ltd, $9.64 million for Global Attire Ltd, $4.6 million for Nippon Paint (Bangladesh) Ltd, $5.0 million for Ananta Casualwear Ltd, and $10.4 million for Desh Energy Ltd.
Besides, Kaiser Sanko JB Textile Ltd, Oasis Fashion Ltd, and Mondol Fabrics Ltd also got loan approval from the committee.
The highest interest rate of the approved loans is 6-month LIBOR+4.50 per cent per annum.
The committee approved total foreign loan worth $1,821 million in fiscal year (FY) 2013, which was 43 per cent higher than that of FY 12.
The press release said there was a continuous growth in inflow of foreign loan over the last five years, and the uptrend is continuing till date.
The main purpose of this foreign loan is to import capital machinery and equipments for the projects concerned.
Officials informed the committee that more foreign financing proposals were under process and close consideration for approval.
The committee hoped that this type of foreign financing will be helpful to keep the dollar price stable, and cut the deficit in balance of payment. It will also create more job opportunities for the country, the release added.
