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Panama Group will receive a Tk 265 million (26.5 crore) syndicated term loan to finance infrastructure development work at Sona Masjid and Hili land-ports and later operate those ports.
The managing directors of the Janata Bank, Jamuna Bank, BRAC Bank, National Credit and Commerce Bank Ltd, Infrastructure Development Company Ltd (IDCOL) and Panama Trading Ltd in this connection signed an agreement in the city Thursday.
Under the loan facility, IDCOL will provide Tk 80 million, BRAC Bank Tk 30 million, Janata Bank Tk 80 million, Jamuna Bank Tk 20 million, NCC Bank Tk 35 million and sponsors' debt will be Tk 20 million.
Finance and Planning Minister M Saifur Rahman was present in the loan agreement signing ceremony as the chief guest. Speaking on the occasion he expressed his firm belief that the country's economic activities would gear up and its revenue earning would increase after the proposed infrastructure developments at the two land ports.
He added that after proper implementation of the land ports the bilateral trade between Bangladesh and India would also increase.
Economic Relations Division (ERD) Secretary Ismail Zabiullah termed the agreement a milestone towards land port management development.
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