BB extends Tk 149 crore term loan to power co under PPP

BB extends Tk 149 crore term loan to power co under PPP

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Investment Promotion and Financing Facility (IPFF) Project of Bangladesh Bank, funded by International Development Association (IDA) of the World Bank and Government of Bangladesh, has extended a term loan of USD 19.15 million equivalent to BDT 149 crore (approx.) to Midland Power Company Limited (MPCL) on 31 March 2015 through lead arranger Eastern Bank Ltd. (EBL) and participated by Mutual Trust Bank Ltd. (MTBL) and Trust Bank Ltd. (TBL) as the syndication member.Bangladesh Bank has been implementing the project on behalf of Finance Division, Ministry of Finance to finance PPP based infrastructure development projects since 2007. Apart from this power plant, IPFF has financed USD 154.72 million equivalent to BDT 1148 crore (approx.) in nine power plants, one inland container depot, one IT infrastructure project and three water treatment plants till date through Participating Banks/Financial Institutions.
It is mentionable that the World Bank released USD 81.00 million (approx.) to the PPP based infrastructure financing window, IPFF on the same day raising the disbursement figure to 77% of total IDA committed fund. – BB press release

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