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IPDC, BB sign deal for promotion of FDI
IPDC Finance Limited has signed an agreement titled "Foreign Direct Investment Promotion Project (FDIPP)" with Bangladesh Bank (BB) under the assistance of Japan International Cooperation Agency (JICA) at BB headquarters, in Dhaka on Wednesday.
The primary focus of this project is to facilitate industry and business loan scheme with the support of IPDC refinanced by BB assisted by JICA.
The project is designed to finance Japanese enterprises, Japanese and Bangladeshi joint venture enterprises, Japanese and other foreign country joint venture enterprises, Bangladeshi and other foreign country enterprises along with Bangladeshi enterprises who have substantial business relation with Japanese enterprises operating in Bangladesh.
19 banks and 5 NBFIs will be eligible to avail financing facility under this scheme, according to a press release issued on Thursday.
IPDC Finance Limited Managing Director and CEO Mominul Islam and BB General Manager MD Rezaul Islam signed the MoU on behalf of their respective sides.
BB Governor Fazle Kabir, BB Deputy Governor Abu Hena Mohd. Razee Hassan, BB Executive Director Ahmed Jamal, JICA Bangladesh office Chief Representative Takatoshi Nishikata, IPDC DMD and Retail Business Head AFM Barkatullah were also present among others at the signing ceremony.