Nine companies get green light to borrow $292.3m from overseas

Bangladesh Bank gave the green light to nine private sector projects to take loans worth $292.3 million from foreign sources, the regulator said in a statement yesterday.
The loans include $190 million for Summit Meghnaghat Power Company, $42 million for Robi Axiata, $39 million for Augere Wireless Broadband and $7 million for Nipro JMI Company.
The rest of the projects are $6 million for Vintage Studio, $2 million for American and Efrid (BD) Ltd, $3 million for Amtranet, $2.2 million for Trims International (BD) Ltd and $1.1 million for Barkat Accessories.
The highest interest rate of the projects is three-month LIBOR, plus 4.5 percent a year.
“This type of foreign financing will be helpful in keeping the foreign exchange rate stable and will impact positively on the balance of payments of the country,” the central bank said.