The 86th meeting of the Board of Investment Scrutiny Committee Monday approved US$ 169.15 million for 13 projects under foreign loan / supplier's credit.
The projects are US$ 100.0 million for Airtel Bangladesh Limited, US$ 25.0 million for Summit Meghnaghat Power Co. Limited, US$ 14.0 million for Mawna Fashions Limited, US$ 5.0 million for International Trading Services Limited, US$ 7.0 million for Standard Stitches Ltd, US$ 5.0 million for Standard Group Ltd & rest of the amount for other seven companies. The highest interest rate of the approved proposals is 3-month LIBOR+4.75% p.a.
The committee approved foreign loan of US$ 1821 million in FY 2013 which was 43% higher than FY 2012 (US$ 1040 million).
The meeting was presided over by Dr Atiur Rahman, Governor, Bangladesh Bank and Convenor of the committee, while the Committee members including representatives of the Prime Minister's office, Ministry of Finance, Ministry of Commerce, Ministry of Industries, Board of Investment and officials of the committee secretariat were also present.
According to a Bangladesh Bank statement, there was a continuous growth in inflow of foreign loans over the last five years and this uptrend continues.
The main purpose of this foreign loan is to import capital machinery & equipments of the project. The committee officials (two joint directors of Bangladesh Bank) informed the committee that more foreign financing proposal is under processing and close consideration for the approval.
The committee hope, that this type of foreign financing will be helpful to keep the dollar price stable, ease the deficit of country's "Balance of Payment" and it will create more job opportunity for the country.
$169.15m foreign loan approved
FE Report | Published: May 27, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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