$7.5m loan for knit unit

Esquire Knit Composite Ltd (EKCL) MD Ehsanul Habib, Natmol Mahapantz, investment manager of DEG, EBL MD Ali Reza Iftekhar, and DBBL AMD AHM Nazmul Quadir are seen at the signing of agreements on $750 million loan and Tk 210 million loan in Dhaka recently. Photo: EBL

DEG, the German Investment and Development Company, has extended a long-term loan of US$ 7.5 million to Esquire Knit Composite Ltd, a concern of Esquire Group, for its expansion of knit composite unit located at Kanchpur in Narayanganj.
Eastern Bank Ltd (EBL) has arranged term loan facility from DEG, says a press release.
Moreover, a term loan syndication facility of Tk 210 million has also been arranged from EBL and Dutch-Bangla Bank Ltd (DBBL) for Esquire Knit Composite Ltd (EKCL). The agreements to this effect have been signed in a ceremony in Dhaka recently.
Md Mofazzal Hossain, chairman of Esquire Group, Ehsanul Habib, managing director of Esquire Knit Composite, Natmol Mahapantz, investment manager of DEG, Md Yeasin Ali, MD of DBBL, and Ali Reza Iftekhar, MD of EBL, were present at the signing.
EKCL Managing Director Ehsanul Habib and Natmol Mahapantz, investment manager of DEG, signed the agreement on $ 7.5 million loan. The deal on Tk 210 million loan was signed by EKCL MD Ehsanul Habib, EBL MD Ali Reza Iftekhar and DBBL Additional MD AHM Nazmul Quadir.