Regulatory Alerts2018-11-07
Added · Updated
SMESPD Circular Letter No. 03: Addendum of Operating Guidelines for JICA assisted Urban Building Safety Project
The addendum replaces the composition table for PMC 1 and adds a new clause establishing a Project Implementation Committee (PIC) for UBSP Component 1, consisting of three representatives from BB-PIU and PWD-PIU meeting monthly. It redefines eligible applicants to include ongoing construction works such as retrofitting, rebuilding, or relocation in the RMG and Knitwear sectors, and requires borrowers to consider the size of the new building regardless of the existing structure when rebuilding or relocating. The financial and technical procedures are updated with specific timelines, including a maximum of 15 days for PFI eligibility assessment, two months for initial assessment, and ten days for pre-finance or refinance disbursement by Bangladesh Bank. Financing for ongoing subprojects is authorized based on progress reports recommended by PFIs and considered by JICA-PIU.
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