• Wednesday, October 22, 2014

Twelve companies permitted to borrow $85.5m from overseas

Star Business Report

A government panel yesterday gave permission to 12 companies to receive $85.5 million in overseas loans.
The approval came at a meeting of Board of Investment Scrutiny Committee, Bangladesh Bank said in a statement.
Of the loan recipients, Color City will receive the highest loan amount of $21 million, Raj Lanka Power Company $14 million and Walton Hi-Tech Industries $14.75 million.
The highest interest rate on the loans is 3-month LIBOR plus 4.5 percent a year, according to the
statement.
The committee approved $1.82 billion in foreign loans in fiscal 2013, up from $1.04 billion in fiscal 2012.
The committee officials said at the meeting that many more foreign financing proposals are being processed and considered for approval.

Published: 12:00 am Wednesday, December 25, 2013

Last modified: 9:50 pm Wednesday, December 25, 2013

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