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)
