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June 4, 2017
No objection Certificate (NOC) issuing ceremony to Meghna Cement Mills Limited under Energy Efficiency & Conservation Promotion Financing Project (EE and CPF)

Mentionable that to promote energy efficiency and conservation (EE&C) in Bangladesh, Japan Government decided to extend Government of Bangladesh (GoB) a loan amounting JPY 11,988 million (about USD 100 million) at 0.01% p.a. interest rate for a period of 40 years. JICA is working as the donor agency under the Project and the fund is channeling through IDCOL and BIFFL as Implementing Financial Institutions (IFIs). Both the IFIs and SREDA is performing as executing agencies for promoting EE&C. The on lending loan amount is USD 42 million allocated for IDCOL.

 

The loan will be extended to end users in two forms. Under Loan Type-A there will be two components (Component-I comprises of industry/ commercial sector and Component-II comprises of building sector) which will be offered a concessionary rate at 4-6% p.a. The main target area is financing of energy efficient equipment and processes in sectors like Textile and Ready Made Garments, Chemical Fertilizer, Paper & Pulp, Glass, Cement & Clinker Grinding, Iron & Steel, Food & Beverage, Telecommunication etc. Under Loan Type-B (Component-III-Home appliances) loan will be given to end users through Participating Distributors (PD) for purchase of energy efficient home appliances.  

 

In this consequence we have approved two projects under EE&CPF, one is for Meghna Cement Mills Limited for an amount of BDT 1,270 million and the other one is Pretty Eco Apparel Village Limited for an amount of BDT 844 million. Today, on 24 May 2017 a No objection Certificate (NOC) issuing ceremony has arranged at SREDA. Mr. Nasrul Hamid MP, Hon’ble State Minister for Ministry of Power, Energy & Mineral Resources was present as Chief Guest, Mr. Nahim Razzaq MP, Convener, Bangladesh Climate Parliament & Dr. Ahmad Kaikaus, Secretary, Power Division, MPEMR have also presented as Special Guest. Mr. Md. Helal Uddin, Chairman, SREDA, ED & CEO of IDCOL, Director (Investment) & Head of Advisory, Representatives from Meghna Cement Mills Limited Pretty Eco Apparel Village Limited have also presented at the program.