BB includes three PCBs as PFIs

Investment Promotion and Financing Facility II

Monday, 15 October 2018

Bangladesh Bank on Sunday signed a Master Facility Agreement (MFA) with three commercial banks to enlist them as Participating Financial Institution (PFI) under Investment Promotion and Financing Facility II (IPFF II), said a BB statement.
Bank Asia Limited, Brac Bank Limited and Trust Bank Limited were enlisted as PFIs in this phase under IPFF II through the signing of this agreement.
This is to be mentioned that USD 403.70 million equivalents to BDT 31.77 billion will be extended as long term loan to the private sector led-infrastructure projects endorsed by relevant government agencies.
The eligible sectors for financing under IPFF II project are: power generation, transmission, distribution, renewable energy and services, port development, industrial and solid waste management, highways and expressways, airport terminals and related aviation facilities, water supply and distribution, sewerage and drainage, industrial estates, economic zones, eco parks, theme parks and parks development, social sector including infrastructure in health and education and information and communications technology.
In the first phase the MFA was signed with eight banks and four Financial Institutions on August 7, 2018.
Mr. Ahmed Jamal, Deputy Governor of Bangladesh Bank & Project Director of IPFF II Project was the chief guest in the programme.
Mr. Rathin Kumar Paul, Deputy General Manager of Bangladesh Bank & Deputy Project Director of IPFF II Project chaired the event.
Besides, Mr. A.K.M. Abdullah, Senior Financial Sector Specialist of the World Bank, senior officials of Bangladesh Bank and Chief Executive Officers as well as senior officials of concerned three banks were present in the event.