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Bangladesh Bank has approved loan facility of USD 23.03 mil.

The Bangladesh Bank under the Investment Promotion and Financing Facility (IPFF) has approved the term loan of USD 23.03 million and disbursed USD 19.91 million at interest rate of LIBOR + 3.30% p.a. for term of 12 years in favor of Baraka Patenga Power Limited (a 51% subsidiary company of BEDL). The fund has disbursed through United Commercial Bank Limited & Trust Bank Limited Another fund of USD 3.12 million will be disbursed shortly for flue gas desulphurization (FGD) equipment. This is the first time the Bangladesh Bank has financed under IPFF project in USD.