Home / Knowledge / News / Textiles / Bangladesh BOI clears $42mn foreign loan for textile firms
Bangladesh BOI clears $42mn foreign loan for textile firms
24
Jun '13
Bangladesh’s Board of Investment (BOI) Scrutiny Committee, at its 76th meeting, has cleared US$ 41.99 million foreign loan for five textile sector firms.
 
The committee constituted for scrutinizing and approving foreign loans to various sectors sanctioned loans of US$ 12.23 million for Saiham Textile Ltd., US$ 3.58 million for Impress-Newtex Ltd, US$ 10.25 million for Phartali Textiles and Hosiery Ltd, US$ 7.32 million for JM Fabrics and US$ 8.61 million for Amann Bangladesh Ltd., Bangladesh’s news agency BSS reported.
 
The highest rate of interest that the credits so extended would attract is six months LIBOR+4.5 percent per annum. 
 
Representatives from BOI as well as finance, commerce and industries ministries attended the meeting held at Bangladesh Bank office in Dhaka under leadership of Dr. Atiur Rahman, Governor of Bangladesh Bank and Convenor of the Committee.
 
Two Joint Directors of Bangladesh Bank, who also officiate as committee officials, updated the committee that further foreign credit proposals are also underway and are being closely considered.
 
Overall, the committee cleared foreign loans worth US$ 154 million for 15 projects, including power and textile projects. During 2012, the committee approved foreign credit proposals worth US$ 1490 million, considerably higher than US$ 819 million in 2011.
 
The committee expects that allowing such foreign credit would help in stabilizing the price of local currency in comparison to US dollar and thereby reduce the country’s Balance of Payment, while creating newer employment opportunities.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 16th Aug 2017

USITC to continue investigations on PSF imports

The US International Trade Commission (USITC) has determined that...

Textiles | On 16th Aug 2017

India’s apparel exports stumble in July 2017

Exports of readymade garments (including those made of cotton,...

Apparel/Garments | On 16th Aug 2017

EU displaces Japan as Myanmar’s largest apparel market

After the reinstatement of Generalised Scheme of Preferences (GSP)...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
18.5%
Skip
14.8%

Total Votes: 27

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
37.0%
No
40.7%
Skip
22.2%

Total Votes: 27

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
81.5%
No
7.4%
Skip
11.1%

Total Votes: 27

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
55.6%
No
11.1%
Skip
33.3%

Total Votes: 27


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X