Bangladesh Bank (BB) Tuesday asked the private commercial banks and Financial Institutions (FIs) to apply for taking facilities from the Investment Promotion and Financing Facility (IPFF) project by April 19.
‘Scheduled commercial banks in private sector and FIs that meet the eligibility criteria and intend to avail of the financing facility may apply to the Project Director of IPFF 11 Project preferably by April 19, 2018,’ said a BB circular.
All required information and documents must be included in the application, the circular added.
A financing agreement was signed by the government with the International Development Association (IDA) on November 5, 2017 to carry out IPFF 11 project with a view to increasing long-term financing for infrastructures and to build capacity of the local financial institutions for promoting private sector-led infrastructure financing in Bangladesh.
Finance Division, on behalf of the government, signed an administration agreement with Bangladesh Bank on January 17, 2018 assigning responsibility to the latter to carry out IPFF 11 project on behalf of them.
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