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The Financial Express

Six PFIs to finance Meghna Industrial Economic Zone

FE DESK REPORT | Published: June 30, 2020 10:10:39 | Updated: July 01, 2020 09:57:08


File photo (collected) File photo (collected)

Six Participating Financial Institutions (PFIs) got approval from the Bangladesh Bank on Monday for financing Meghna Industrial Economic Zone Limited (MIEZL) in Narayanganj.

A total of BDT 2.82 billion under Investment Promotion and Financing Facility II (IPFF II) Project of Bangladesh Bank, co-financed by the Government of Bangladesh and the World Bank, has been extended to a syndication of six PFIs--Industrial & Infrastructure Development Finance Company Limited, Infrastructure Development Company Limited, Midland Bank Limited, Bank Asia Limited, Trust Bank Limited and United Commercial Bank Limited--for financing MIEZL in Narayanganj, according to a statement issued by Bangladesh Bank.

MIEZL is the first BEZA-approved private economic zone that got long-term loan from IPFF II project.

"It is expected that MIEZL would play a vital role in the process of rapid economic development of the country," the BB statement added.

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