a year ago

IPDC to avail loan of 15m euros from German institution

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IPDC Finance has received the regulatory approval to avail long-term financing of 15.0 million euros from Deutsche Investitions-und Entwicklungsgesellschaft (DEG), a development finance institution of Germany.

The company has informed that Bangladesh Bank has accorded its approval through Standard Chartered Bank, said a disclosure posted on the website of Dhaka Stock Exchange (DSE) on Tuesday.

The approval, however, comes with certain conditions which will require IPDC to renegotiate the terms and conditions of the loan with the lender, the company added.

The IPDC official concerned could not be reached for detailed information.

The IPDC Finance, presently an 'A' category company, was listed on the stock exchanges in 2006.

On Tuesday, the company's share price advanced 7.36 per cent or Tk 4.80 to close at Tk 69.10 each on the premier bourse.

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