A government committee on Tuesday approved proposals of 15 private companies to take $154 million in foreign loans. 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.The projects include a fund of $30 million for Summit Meghnaghat Power Company, $5 million for Summit Bibiyana Power Company, $21.1 million for Midland Power Company, $40 million for BSRM Steel, $12.23 million for Saiham Textile, $10.25 million for Phartali Textiles & Hosiery, $8.61 million for Amann
Bangladesh, $7.32 million for JM Fabrics, $6 million for Holcim Cement (BD), and $3.58 for Impress-Newtex, said a BB press release.
Other members of the committee, including representatives from Prime Minister’s Office, finance ministry, commerce ministry, industries ministry, Board of Investment and officials of the committee secretariat, were also present at the meeting.
The highest interest rate of the loan is 6-month LlBOR (London Inter Bank Offer Rate) plus 4.5 per cent per annum.
The BB press release said more foreign financing proposals were under close consideration for approval.
The committee hoped that this type of foreign financing would be helpful to keep the dollar price stable.
-With New Age input
