A government committee on Monday approved proposals of seven private companies to take $60 million in loan from foreign sources.
The private sector foreign loan/supplier’s credit committee, headed by Bangladesh Bank governor Atiur Rahman, approved the loan proposals at a meeting at the central bank headquarters in the capital.
ACME Laboratories will take $32 million, Renata $10 million, Aswad Composite $8 million, Cutting Edge Industries $4.1 million, MBM Garments $1.2 million, Cosmopolitan Industries $ 3 million, Dan Foods $1.4 million, said a BB press release.
The highest interest rate of the loan is 3-month LIBOR (London Inter Bank Offered Rate) plus 4.5 per cent per annum.
Other members of the committee, including representatives from Prime Minister’s Office, finance, commerce and industries ministries, Board of Investment and officials of the committee secretariat were also present at the meeting.
The committee approved foreign loan worth $1.49 billion in 2012 and $819 million in 2011.
The press release said that more foreign financing proposals were under close consideration for approval.
This type of foreign financing will be helpful to keep the dollar price stable and lower the deficit of ‘Balance of Payment’, said the BB press release.
-With New Age input
