Regulatory Alerts2013-04-09
Added · Updated
EEF Circular No. 34: Equity & Entrepreneurship Fund (EEF) - Sanction of Food Processing & Agro-based Projects
The circular prohibits the sanctioning of multiple projects for the same family within the food processing and agro-based sectors, defining 'family' according to Section 14(k) of the Bank Companies Act, 1991, and requires a declaration containing this information to be attached to the EEF application. It increases the maximum total project cost limit for capital machinery-dependent projects in these sectors from BDT 10 crore to BDT 12 crore, while maintaining the 51:49 equity-to-EEF support ratio. The previous ceiling of BDT 10 crore remains unchanged for all other food processing and agro-based projects not dependent on capital machinery.
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