AB Bank Ltd. signed a Master Facility Agreement under 'Investment Promotion and Financing Facility (IPFF)' with Bangladesh Bank (BB) at Bangladesh Bank’s head office on Wednesday, says a press release.

AB Bank president and managing director Kaiser A Chowdhury and Bangladesh Bank executive director S K Sur Chowdhury signed the agreement.

M Fazlur Rahman, additional managing director, Mahmudul Alam, head of structured finance, Kazi Nasim Ahmed, vice-president of AB Bank and Husne Ara Shikha, joint director and deputy project director, Goutam Kumar Ghosh, deputy director, IPFF Cell, Bangladesh Bank and other officials of both the organisations were present.

Under the agreement, AB Bank will enjoy financing facility from the World Bank, administered by the Bangladesh Bank, for extending credit facilities to such infrastructure projects.

The government has taken the IPFF project to make available partial debt financing through private sector financial intermediaries for eligible, government-endorsed infrastructure projects, to be developed by the private sector. Projects developed solely by the private sector but identified by the government to be in the public interest will also be eligible to get financing under IPFF.

Source: The Independent/ Bangladesh/ 15th Dec 2011