ET Desk
Bangladesh Bank Governor Atiur Rahman Monday appreciated Infrastructure Development Company Ltd (IDCOL) and AB Bank for their innovative business strategy and urged other financial institutions to adopt ventures on green technology.
"We need more financial institutions to pay attention towards eco-friendly environment conservation projects like the centralized effluent treatment plants (ETPs)," Mr Atiur said.
He assured all-out supports from his office in similar development activities.
The BB Governor was speaking at the signing ceremony for a syndicated team loan facility of Tk 205 million that took place on Monday for a Central Effluent Treatment Plant of Chittagong Waste Treatment Plants Ltd (CWTPL) in Chittagong EPZ with 20,000 cubic-meters per day liquid effluent handling capacity.
CWTP is trying to commission the central effluent treatment plant (CETP) within April, 2011.
IDCOL and AB Bank Limited were the syndicated loan participants.
Chaired by IDCOL Director and former secretary of Power Division Dr M Fouzul Kabir Khan, the signing ceremony was also attended by IDCOL Executive Director and CEO Islam Sharif and Executive Chairman of Bangladesh Export Processing Zones Authority (BEPZA) Brigadier General Jamil Ahmed Khan.
CWTPL Chairman and president and managing director of AB Bank Kaiser A Chowdhury were also present on the occasion.
According to the loan condition, interest rate was fixed at 13 per cent for eight years. Total cost of the project is Tk250.22 million while its equity is Tk50.04 million and Debt was Tk200.18 million, as announced.
Established in May 1997 by the Government of Bangladesh, IDCOL is playing a major role in bridging the financing gap for developing medium and large-scale infrastructure and renewable energy projects in Bangladesh. The company now stands as the market leader in private sector energy and infrastructure financing in Bangladesh.
It has a small and multi-skilled work force comprising economists, financial and market analysts, engineers, lawyers, IT experts and accountants. IDCOL's stakeholders include the government, private sector, NGOs, multilateral institutions, academics and the people of Bangladesh at large.