Japan's Sumitomo wants to bankroll mega projects
Sumitomo Mitsui Banking Corporation, the second largest bank of Japan, has expressed interest in investing billions of dollars in mega projects in Bangladesh.
The interest was conveyed in a meeting yesterday with Finance Minister AMA Muhith at his secretariat office by a team led by Sumitomo's head of investment banking department for the Asia Pacific region, Rajeev Kannan.
After the meeting Muhith told reporters that the team came to Bangladesh to explore investment possibilities. He said they are interested to finance if they find good projects here.
“I am happy to receive them. We are going to run big mega projects, which needs financiers,” he said, citing the Payra seaport as one of the mega projects.
Sumitomo will provide soft finance to those who will implement the mega projects.
“The rate of interest will not be much,” he added.