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IDCOL launches ‘Shonchalok’ program for channeling funds to software and ITES industries
Information and Communication Technology (ICT) sector has been termed as one of the thrust sectors of the country by the Government of Bangladesh. Software has been declared one of the six ‘high priority’ export sectors for the economy in the recent National Export Policy (2006-09). The vision of the Government to boost this prospective sector has been reflected in its various policy initiatives. Due to increasing software export trends and large demand for IT automation in domestic industries, the ICT sector of Bangladesh has been growing at 61% on an average over the last 5 years. Currently, about 400 companies are operating in the market employing more than 12,000 ICT professionals, value of which is estimated at around USD 300 million.
While the necessary policy support from the Government of Bangladesh (GoB) is in place, availability of finance for the ICT sector still remained a challenge. The software and ITES industry have been seeking greater access to working capital finance for many years, as commercial lenders tend to shy away from this industry due to some inherent challenges of this sector and lack of interest in assessing the intangible assets of such companies. In order to address the obstacles, IDCOL has designed an innovative product named “Shonchalok” under which long-term/short-term/working capital loans will be channeled through commercial banks and financial institutions to the software and IT solution providers of Bangladesh. IDCOL has already sourced about BDT 500 million for this purpose.
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 Created at: 2008-11-27 13:19:03 Created By: admin
IDCOL has entered into a USD 165 million loan agreement with the Asian Development Bank
IDCOL has entered into a loan agreement with ADB on 21 October 2008 under which ADB will lend IDCOL a total amount of USD 165 million.
An amount of USD 82 million will be lent to IDCOL from the Ordinary Capital Resources (OCR) of ADB for investing into large infrastructure projects in the private sector by making sub-loans to Qualified Enterprises for Qualified Projects.
Total amount of ADF loan will be USD 83 million of which USD 50 million will be for investing into small and medium infrastructure loans and USD 33 million for Renewable energy projects.
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Created at: 2008-11-27 13:02:44 Created By: admin
IDCOL has sanctioned a term loan of BDT 500 million for 51 MW power plant project of Barakatullah Electro Dynamics Ltd.
IDCOL has sanctioned a term loan amounting BDT 500 million out of BDT 1,280 million syndicated term loan facility to be raised for Barakatullah Electro Dynamics Ltd. (BEDL). IDCOL is mandated to act as the lead arranger for this 51 MW rental power plant project, to be constructed at Fenchuganj, Sylhet.
Total term loan facility is divided in two tranches. In Tranche 1 and in Tranche 2, a total of BDT 500 million and BDT 780 million will be raised respectively.Brac Bank Ltd. will act as co-arranger in this project. Other prospective participants in this syndicated loan facility are AB Bank Limited, Trust Bank Limited, Mutual Trust Bank Limited, Bank Asia Limited, The City Bank Limited, IIDFC and Janata Bank Limited. The project will operate on Build-Own-Operate (BOO) basis for a term of 15 years. The project is expected to go into commercial operation in January 2009.
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Created at: 2008-11-27 12:57:23 Created By: admin
IDCOL Board has approved investment in BDT 500 million bond issued by Grameenphone Ltd.
IDCOL Board has approved investment in an unsecured, non-convertible senior bond amounting BDT 500 million out of BDT 4250 million being issued by Grameen Phone Limited. Citibank, N.A. has been mandated to act as the arranger and placement agent of the said bond issuance. Eastern Bank Limited (EBL) has been appointed as the initial "Trustee", "Paying Agent", "Registrar", and “Transfer Agent" relating to the bonds....
Created at: 2008-11-27 12:49:34 Created By: admin
IDCOL board has approved BDT 200 million to finance Interconenction Exchange project of M & H Telecom Ltd.
Recently IDCOL has provided a term loan amounting BDT 200 million to M&H Telecom Limited for setting up of an interconnection exchange (ICX). The ICX License has enabled MTL to act as one of the three licensed operators to route inter-operator domestic calls and international calls to and from Bangladesh via International Gateway (IGW) operators. The project also received fund approval from Prime Bank Limited, Exim Bank Limited, and South East Bank Limited for an amount of BDT 300 million. The Interconnection Exchange will support both domestic and international voice call services, with a capacity of handling 36,000 concurrent calls at a time. To facilitate the ICX services, MTL will be required to set up three Interconnection Exchanges in Dhaka, Chittagong and Khulna.
Under the ILDTS Policy 2007, Bangladesh Telecommunication Regulatory Commission (BTRC) has issued four IGW licenses, three ICX licenses and two International Internet Gateway (IIG) Services
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Created at: 2008-11-27 12:44:08 Created By: admin
IDCOL board has approved BDT 200 million to finance International Gateway project of Bangla Trac Communications Ltd.
The International Gateway ( IGW) License has enabled Bangla Trac Communications Limited (BTCL) to act as one of the four licensed operators to route incoming and outgoing international calls to and from Bangladesh. IDCOL board has approved BDT 200 million to finance this prospective business. The project has a capacity of handling 20,000 concurrent calls at a time. BRAC Bank Ltd is the another lender to this project.
Under the ILDTS Policy 2007, Bangladesh Telecommunication Regulatory Commission (BTRC) has issued four IGW licenses, three ICX licenses and two International Internet Gateway (IIG) Services
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Created at: 2008-11-27 12:41:55 Created By: admin
IDCOL disbursed term loan of BDT 200 million for 34.5 MW power plant project of Venture Energy Resources Ltd.
IDCOL has provided a term loan amounting BDT 200 million out of BDT 1,156 million for 34.5 MW rental power plant project of Venture Energy Resources Limited. AB Bank acted as the Lead Arranger for the project. The project will be operated on Build-Own-Operate (BOO) basis for a term of 3 years. The generated electricity by the project will be sold to Bangladesh Power Development Board (BPDB)....
Created at: 2008-11-27 12:22:56 Created By: admin
IDCOL disbursed term loan of BDT 200 million for 35 MW DEPZ power plant of Malancha Holdings Limited
IDCOL has recently disbursed term loan of BDT 200 million for a 35 MW power plant at Dhaka Export Processing Zone (DEPZ). The plant is being developed by Malancha Holdings Limited, a concern of United Group. The gas-based power plant is expected to supply uninterrupted power to the industries located in DEPZ through Bangladesh Export Processing Zones Authority(BEPZA) for a period of 30 years....
Created at: 2008-05-26 10:56:43 Created By: admin
IDCOL Board approves BDT 600 million term loan for a total 110 MW capacity power plants of Summit Power Limited
IDCOL board has recently approved BDT 600 million term loan for total 110 MW capacity power plants of Summit Power Limited (SPL). Summit Purbanchol Power Company Limited (SPPCL) and Summit Uttaranchol Power Company Limited (SUPCL), two subsidiaries of SPL, will develop and operate the plants on Build-Own-Operate (BOO) basis....
Created at: 2008-05-26 10:55:29 Created By: admin
IDCOL signs Loan Agreements with Grameenphone Ltd
IDCOL has provided Tk. 12.50 crore to Grameenphone Ltd. (GP) for expansion of the latter's existing telecommunication network....
Created at: 2008-05-26 10:53:15 Created By: admin
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