Economic Reporter :
Two international financial organizations, PROPARCO and FMO have signed an agreement with PRAN Group to provide $13 million loan for developing infrastructure of its juice and beverage industries.
Société de Promotion et de Participation pour la Coopération Economique S.A. (PROPARCO),the French development finance institution, arranged the transaction for Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), the Dutch development finance institutions. PROPARCO and FMO granted loans of USD 8m and USD 5m respectively, with a tenor of 7 years.
PRAN, a leading food processor and exporter in Bangladesh, is borrowing the money for upgrading allied packaging system and set up cutting-edge technology for juice and beverage sections of its Gazipur factory under Mymensingh Agro Limited.
Ahsan Khan Chowdhury, deputy managing director at PRAN-RFL Group, Marjolein Landheer, head of agribusiness department at FMO, and Sebastien Fleury, regional representative (South Asia) at PROPARCO, signed the agreements on behalf of their respective firms.
Uzma Chowdhury, director of corporate finance at PRAN-RFL Group and Deanne Arends, investment officer at FMO were also present during the ink deal ceremony which was held at Radisson Hotel in the capital on Wednesday.
Through this transaction, PROPARCO and FMO, contribute to support economic growth and rural development in Bangladesh.
Two international financial organizations, PROPARCO and FMO have signed an agreement with PRAN Group to provide $13 million loan for developing infrastructure of its juice and beverage industries.
Société de Promotion et de Participation pour la Coopération Economique S.A. (PROPARCO),the French development finance institution, arranged the transaction for Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), the Dutch development finance institutions. PROPARCO and FMO granted loans of USD 8m and USD 5m respectively, with a tenor of 7 years.
PRAN, a leading food processor and exporter in Bangladesh, is borrowing the money for upgrading allied packaging system and set up cutting-edge technology for juice and beverage sections of its Gazipur factory under Mymensingh Agro Limited.
Ahsan Khan Chowdhury, deputy managing director at PRAN-RFL Group, Marjolein Landheer, head of agribusiness department at FMO, and Sebastien Fleury, regional representative (South Asia) at PROPARCO, signed the agreements on behalf of their respective firms.
Uzma Chowdhury, director of corporate finance at PRAN-RFL Group and Deanne Arends, investment officer at FMO were also present during the ink deal ceremony which was held at Radisson Hotel in the capital on Wednesday.
Through this transaction, PROPARCO and FMO, contribute to support economic growth and rural development in Bangladesh.
