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Nineteen end-borrowers have received over Tk 3.64 billion in the form of 35 loans under the Foreign Direct Investment Promotion Project (FDIPP).
The project, supervised by Bangladesh Bank (BB) and funded by the Japan International Cooperation Agency (JICA), aims to accelerate the economic development of Bangladesh by promoting Japanese private sector investment.
Details of the disbursements were shared at a dissemination seminar organised by the FDIPP implementation unit of BB at the CIRDAP Auditorium in Dhaka’s Topkhana on Sunday.
Deputy Governor of Bangladeah Bank Md Khurshid Alam, Executive Director Dr Md Kabir Ahmed, Project Director Mizanur Rahman Akon, among others, were present at the seminar.
The Financial Institutions Division of the Ministry of Finance is the executing agency, and BB (FEID) is the implementing agency of the TSL (two-step loan) component of the FDIPP.
TSL component is an on-lending loan scheme to provide short, medium, and long-term loans to Japanese-invested enterprises, Japan-Bangladesh joint ventures, and Bangladeshi enterprises having substantial business deals with Japan through accredited Participating Financial Institutions (PFIs).
The duration of the project is from February 2016 to March 2025.
Earlier on December 13, 2015, JICA and the Bangladesh government signed a loan agreement for the project entitled Foreign Direct Investment Promotion Project (FDIPP-P86).