Example of Bangladesh Bank Letter



Foreign Currency Regulation Department
Bangladesh Bank
Head Office
Dhaka.
Sd/ Illegible
4/ 12/ 12
Keep in Portfolio
Sd/ Illegible
5/ 12/ 12

Activities of the Meeting Held Dated 28/ 11/ 2012 of the Hard Term Loan Standing Committee

A copy has been sent for kind information and to take necessary steps of the activities of meeting held dated 28/ 11/ 2012 of hard term loan standing committee.
(Seal)
1129
4/ 12
Sd/ Illegible
(Md. Masud Bishash)
General Manger
and Secretary- member
Hard Term Loan Standing Committee
Phone- 9530123

Attached: 02 (Two) Page.
Official note no- FEPD (HTL) 701/ K-238/ 2012/ 480                                    Date: 3/ 12/ 2012
1. Governor, Bangladesh Bank, Dhaka.
2. Senior Secretary, Financial Relation Department, Finance Ministry, Shere Bangla Nagor, Dhaka.
3. Secretary, Finance Department, Finance Ministry, Bangladesh Secretariate, Dhaka.
4. Secretary, Electricity Department, Electricity, Foil and Mine Asset Ministry, Bangladesh Secretariat, Dhaka.
6. Managing Director, Ashuganj Power Station Company Ltd, Ashuganj, B- baria.
7. Personal Secretary of Honorable Finance Ministry, Finance Ministry, Bangladesh Secretariate, Dhaka.

Certified To Be True
Ashuganj Power Station Company Ltd.
Sd/ Illegible
Managing Director
Hard Term Loan, 2011, 2012\ IITI, Letter.doc
(Monogram)
Activities of the Meeting of the Hard Term Loan Standing Committee Held Dated 28/ 11/ 2012
A meeting was held by the present of invited officials/ members as bellow of the Hard Term Loan Standing Committee at around 1.00 PM dated 28/ 11/ 2012 in the conference room of finance ministry by preside of honorable finance minister for taking decision of taking 420 million loan through HSBC a201.80 million loan through Standard Chartered Bank Bank respectively as Mandated Loan Arranger of Export Credit Agency (EA) backed financing to implement the projects name 2 combined cycle Electricity Center (CCPP) in perticular Ashugaj 225 Mega Watt a450 Mega Watt (South) by Ashuganj Power Station Company Limited (APSCL) under the department of electricity, foil and mine asset ministry’s electricity department of Government People’s Republic of Bangladesh:
No
Name
Position

1.
Mr Dr. Atiur Rahman
Governor, Bangladesh Bank
Member
2.
Mr Iqbal Mahmud
Senior- Secretary, Financial Relation Department, Finance Ministry
Member
3.
Mr Fazle Kabir
Secretary, Finance Department, Finance Ministry
Member
4.
Mr Abul Kalam Azad
Secretary, Electricity Department, Electricity, Foil and Mine Asset Ministry
As per order
5.
Mr Md. Nurul Alom
Managing Diretor, Ashuganj Power Station Company Limited
As per order
6.
Mr Md. Masud Bishash
General Manager, Foreign Currency regulation Department, Bangladesh Bank
Secretary Member

2. The respectable president started the meeting by a worming welcome of the activity of the meeting.
3. The meeting of the Hard Term Loan Standing Committee has been informed that Ashuganj 225 Mega Watt CCPP Project ECA Backed Financing will receive for implementation as All in cost of 3.33% percent LIBOR (6 Months) from Hermes Germany of 66.97 million USD and as All in cost LIBOR (6 Months) + 3.86% rate from K- sure, Korea of 138.83 million USD means in total 201.80 million USD loan Blended as All- in cost LIBOR (6 Months) + 3.69% rate 13 years (3 years availability period) + 10 years loan repayment period) of the period from Mandated Loan Arranger SCB. Ashuganj 450 Mega Watt CCPP Project ECA Backed Financing will receive for implementation as All in cost of 3.36% percent LIBOR (6 Months) from Hermes Germany of 101.00 million USD and as All in cost LIBOR (6 Months) + 3.44%% rate from K- sure, Korea of 75.00 million USD means in total 420  million USD loan Blended as All- in cost LIBOR (6 Months) + 1.14% rate 13 years (3 years availability period) + 10 years loan repayment period) of the period from Mandated Loan Arranger SCB. A regulated agreement has been made to give Sovereign Guarantee from Finance Department, Finance Ministry for the mentioned projects. The secretary of Electricity Department informed to the meeting that the percentage of the loan has been fixed by negotiating a lot with mentioned ECA to finance of the two important projects. He requested to approve the proposed discussed loan to implement the project. Therefore Senior Secretary, Finance Relation Department and the Government of Bangladesh Bank participated to discuss. Finally, in the meeting an agreement has been made on propose to implement the projects of Ashuganj 225 Mega Watt CCPP and 450 Mega Watt (South) CCPP projects.
Certified To Be True, Ashuganj Power Station Company Ltd, Sd/ Illegible, Managing Director
HTI. (Mmutes) AshuganjPSC- Revised (Monogram)

In the meeting a discussion has been made regarding on the guarantee that Bangladesh Government has to give for the reason of the foreign loan in different government and non- government organization. What will be the criteria on easy loan hang been in difficult terms on that matter a discussion is continuing with international monetary fund informed finance secretary to the meeting? It is clear by the discussion that we usually take these loan 2 / 3 reasons. First need is that of foreign loan for liquid oil and all of it BPC takes. Second, one is most important now that is foreign loan in electricity department to produce electricity. Both loans are very important overall for the economics on agreement. Is has been said in the meeting is that we are offering some guarantee for Bangladesh Biman and the purpose is to make Bangladesh Biman a profitable organization. The guarantee has been given in the period of care taker government by a contract for a good long- time purchase.

5. It also has been said in the meeting that we think we need to issue bond for the first period 2013. This entrepreneur is taking for the reason to make sure as an alternative emerging economic power. The foreign currency of this bond will be used solely for development purpose. As a result no need to take much loan in electricity sector. It has to be fixed of this easy difficult foreign loan criterion. Bangladesh Bank and Finance Department have been given responsibility to have in mind the logic and consideration on the subject.

Decision:

6. Ashuganj 225 Mega Watt CCPP project in total 201.80 million USD Blended as All- in cost as LIBOR (6 Months) +3.69% rate 13 years (3 years availability period + 10 years loan repayment period) Mandated Loan Arranger, through SCB and Ashuganj 450 Mega Watt (South) CCPP project in total of 420.00 million USD Mlended as All- in cost LIBOR (6 Months) +4.14 rate 13 years (3 years availability period + 10 years loan repayment period) through Mandated Loan Arranger, HSBC the approval has been given on an all greement in the meeting.

Sd/ Illegible
2/ 12/ 12
(Abul Mal Abdul Muhit)
Finance Minister
Government of the People’s Republic of Bangladesh

Sd/ Illegible
(Md. Masud Bishash)
Secretary Member
Hard Term Loan Standing Committee


Certified To Be True
Ashuganj Power Station Company Ltd
Sd/ Illegible
Managing Director
HTI. (Mmutes) AshuganjPSC- Revised (Monogram)
Bangladesh Bank
Head Office
Dhaka

Presents in the meeting of Hard Term Loan Standing held dated 18/ 11/ 2012
No
Name
Position
Signature
1.
Atiur Rahman
Governor Bangladesh Bank
Sd/ Illegible
2.
Fazle Kabir
Secretary, Finance Department
Sd/ Illegible
3.
Iqubal Mahmud
SIS Asbi
Sd/ Illegible
4.
Md. Abul Kalam Azad
Secretary, Loan Department
Sd/ Illegible
5.
Md. Nurul Islam
Managing Director
Sd/ Illegible

















Certified To Be True
Ashuganj Power Station Company Ltd
Sd/ Illegible
Managing Director
(Monogram)

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