IPFF II Circular No. 01: Amendment of Operations Manual for the Investment Promotion and Financing Facility II Project — BB — BD

BANGLADESH BANK
(Central Bank of Bangladesh)
Head Office
Motijheel, Dhaka-1000
Bangladesh

IPFF II Project Cell
24th Floor

IPFF II Circular No. 01 Date: July 05, 2020

Chief Executive Officers (CEOs)/Managing Directors (MDs) All Banks and Financial Institutions in Bangladesh Head Office Dhaka Dear Sirs,

Amendment of Operations Manual (OM) for the Investment Promotion and Financing Facility II (IPFF II) Project

Please refer to the IPFF II Circular no. 01 dated March 13, 2018, in terms of which Operations Manual (OM) containing the terms and conditions including operational procedures for availing Financing Facility under Investment Promotion & Financing Facility II Project were circulated.

IPFF II financing facility is being extended either in USD or in BDT, or in a combination of both USD and BDT, at fixed or variable rates, depending on request by the Participating Financial Institutions (PFIs) and business need of the subproject.
To make IPFF II Facility loan (in BDT) more attractive to the sponsors, it has been decided that Weighted Average Rate of Interest on Deposits (WARID) will also be considered in addition to GOB T-bill 364-day yield in fixing interest rate for IPFF II Facility Loan in BDT.
In this regard necessary amendment in the Operations Manual [paragraph 9 (vi)] has been made. Details are explained below:

Currency	Fixed	Variable
BDT	GOB T-bill 364-day yield + 100 bp ; Or ; Prevailing Weighted Average Rate of Interest on Deposits (WARID) as disclosed on the web page of Bangladesh Bank + 100 bp ; whichever is lower	GOB T-bill 364-day yield ; Or ; Prevailing Weighted Average Rate of Interest on Deposits (WARID) as disclosed on the web page of Bangladesh Bank ; whichever is lower

All other instructions contained in IPFF II Circular No.1, dated March 13, 2018 shall remain unchanged.

Please bring the contents of this circular, effective from June 30, 2020 to the notice of all your constituents concerned.

Sincerely yours,

(Rathin Kumar Paul)
Deputy General Manager, Bangladesh Bank
&
Deputy Project Director, IPFF II Project
Phone: 9530230

Phone: +88-02-9530230, +88-02-55665001-6, Fax: +88-02-9530193, E-mail: bb.ipff@bb.org.bd, Website: www.bb.org.bd

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Amends

II Circular No. 1 dated 2018-03-13Not in RegAlert
“as disclosed on the web page of Bangladesh Bank <br> whichever is lower | 05. All other instructions contained in IPFF II Circular No.1, dated March 13, 2018 shall remain unchanged. Please bring”