The Board of Investment scrutiny committee for approval of private sector foreign borrowing on Monday cleared $25 million in foreign loans against three private sector projects.
The approval came from the 75th meeting of the BoI scrutiny committee for approval of foreign loan/supplier’s credit held at the Bangladesh Bank, said a central bank release.
The committee approved $25 million in foreign loans for three projects — $22.57 million for Summit Bibiyana II Power Company; $0.6 million for Silver Company; and $2.0 million for Global Attire. The highest interest rate of the approved proposals is 6-month LIBOR+4.50 per cent per annum.
Presided over by Bangladesh Bank governor Atiur Rahman, who is also the convenor of the committee, the meeting was attended, among others, by the committee members including representatives of the prime minister’s office, Ministry of Finance, Ministry of Commerce, Ministry of Industries and Board of Investment. Officials of the committee secretariat were also present.
The committee approved foreign loans of $1,490 million in 2012 and $819 million in 2011.
-With New Age input
