BSS, Dhaka :
Bangladesh Bank (BB) has so far received 73 project proposals involving US$ 435 million from export-oriented companies to facilitate long-term financing under the World Bank funded Financial Sector Support Project (FSSP).
“We have already sanctioned 27 proposals with $109.77 million, of which $50.79 million of 18 proposals has been disbursed, the rest of the sanctioned amount is under the process of disbursement,” a senior BB official told BSS on Tuesday.
Out of the total sanctioned funds, some have been disbursed partially and some others are under the process as the amounts will be disbursed through opening Letter of Credit (LC) for importing machineries, he added.
Out of the total applications received through commercial banks, the central bank is processing 27 proposals while 13 have been sent to the World Bank for consideration, the BB official said.
He also said the BB has also rejected six proposals with $31.71 million for various reasons.
“We have submitted proposals of 11 companies involving $52.99 million, of which four companies have already been given their sanctioned funds amounting to $8.46 million,” said Additional Managing Director and COO of Mutual Trust Bank M Hashem Chowdhury.
Out of the total submitted proposals, he said, one proposal has already been approved, two have been withdrawn for different reasons and rest of the proposals awaits approval.
BB under the auspices of International Development Association (IDA) of the World Bank would provide a total of $350 million under FSSP, which would play a pivotal role in meeting the growing demand for long-term financing for productive sectors in the country.
Bangladesh Bank (BB) has so far received 73 project proposals involving US$ 435 million from export-oriented companies to facilitate long-term financing under the World Bank funded Financial Sector Support Project (FSSP).
“We have already sanctioned 27 proposals with $109.77 million, of which $50.79 million of 18 proposals has been disbursed, the rest of the sanctioned amount is under the process of disbursement,” a senior BB official told BSS on Tuesday.
Out of the total sanctioned funds, some have been disbursed partially and some others are under the process as the amounts will be disbursed through opening Letter of Credit (LC) for importing machineries, he added.
Out of the total applications received through commercial banks, the central bank is processing 27 proposals while 13 have been sent to the World Bank for consideration, the BB official said.
He also said the BB has also rejected six proposals with $31.71 million for various reasons.
“We have submitted proposals of 11 companies involving $52.99 million, of which four companies have already been given their sanctioned funds amounting to $8.46 million,” said Additional Managing Director and COO of Mutual Trust Bank M Hashem Chowdhury.
Out of the total submitted proposals, he said, one proposal has already been approved, two have been withdrawn for different reasons and rest of the proposals awaits approval.
BB under the auspices of International Development Association (IDA) of the World Bank would provide a total of $350 million under FSSP, which would play a pivotal role in meeting the growing demand for long-term financing for productive sectors in the country.
