Regulatory Alerts2016-11-13
Added · Updated
FEPD Circular No. 27: Long Term Financing Facility (LTFF) under the Financial Sector Support Project (FSSP)
This circular replaces FE Circular No. 18 and establishes the operational framework for the Long Term Financing Facility (LTFF) to provide long-term foreign currency financing to small and medium-scale manufacturing enterprises. Participating Financial Institutions (PFIs) must meet specific eligibility criteria, including a minimum CAMELS rating of 3 and non-performing loans not exceeding 8 percent, to receive funds for on-lending or refinancing. The Operations Manual defines loan maturities of 3 to 10 years, pricing based on six-month USD LIBOR plus a spread, and approval processes categorized by environmental and social risk levels. Eligible expenditures include capital machinery, factory construction, and relocation to industrial zones, with a cutoff date for eligible activities set at September 30, 2020.
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