BIFFL approved up to BDT 55.00 crore term loan facility for M.M. Ispahani Limited and arranged a discussion session with the industrialists

Jan 23, 2019
BIFFL

On 20 January 2019, Bangladesh Infrastructure Finance Fund Limited (BIFFL) and M.M. Ispahani Limited signed a loan facility up to BDT 55.00 crore under “Energy Efficiency & Conservation Promotion Financing” of JICA. The loan will facilitate setting-up an energy-efficient Textile Mill named “Pahartali Textile and Hosiery Mills Unit-5” in Chittagong. To celebrate the event, BIFFL organized a ceremony in the port city, Chattogram. In this occasion BIFFL also arranged a discussion session with the potential stakeholders on the financing opportunities at BIFFL. Mr. S. M. Formanul Islam, Executive Director & CEO, BIFFL & Mr. Mirza Salman Ispahani, Chairman, M. M. Ispahani Limited signed the loan agreements for the respective organization. Among others Mr. Mahbubul Alam, President, Chittagong Chamber of Commerce & Industry, several directors of Chittagong Chamber of Commerce & Industry, business delegates of Chattogram, representative from JICA and different Banks & FIs were also present in the event.
Mr. Mohammad Sagir Hossain Khan, Chief operating officer, BIFFL addressed the welcome speech in the ceremony. Mr. Mirza Salman Ispahani, Chairman, M. M. Ispahani Limited and Mr. Mahbubul Alam, President, Chittagong Chamber of Commerce & Industry also addressed the occasion. Mr. S. M. Formanul Islam, Executive Director & CEO, BIFFL, delivered the closing remarks of the program.

In his closing remarks Mr. S. M. Formanul Islam expressed his concern regarding the continuous growing demand supply-gap of primary energy of Bangladesh. Statistics shows that the gap surged from 6066 MW to 9268 Mw from 2012 to 2014. He prudently pointed that “one unit saved means one unit is not required to be generated which also saves the cost for fuel of generation as well as maintenance”. Mr. Islam reiterated Government’s