The government on Monday approved a proposal for taking $84.97 million as loan through tenderer’s financing from the Credit Agricole Corporate and Investment Bank for procuring 200 MG coaches for Bangladesh Railway, reports BSS.
The approval came from the 29th meeting of the Standing Committee on Non-Concessional Loan with Finance Minister AHM Mustafa Kamal in the chair held at his ERD office. Briefing reporters after the meeting, Kamal said that under the project for procuring 200 meter gauge passenger carriages involving Taka 927.52 crore, new coaches would be procured from a Chinese company to replace the old ones.
Asked how long it would take to bring those coaches, he said that the Ministry of Railways have already completed necessary preparations in this regard adding that there would be no delay.
Replying to another question, the Finance Minister said the interest rate of this loan would not cross 2 percent and it would be repaid in 15 years with a grace period of 3 years. The project has already got approval from the Cabinet Committee on Economic Affairs while Prime Minister Sheikh Hasina gave approval in principle in this regard. The Engineering, Procurement Construction (EPC) firm of this project is CRRC Sifang Company Limited.