IPDC Finance to borrow €15m from Germany

IPDC Finance Ltd has received approval from the Bangladesh Bank to avail 15 million euro in long-term financing from German development finance institution DEG.

In a filing on the Dhaka Stock Exchange (DSE) yesterday, the non-bank financial institution said the central bank has accorded its approval through Standard Chartered Bank for availing the loans. 

The approval comes with certain conditions that will require IPDC to renegotiate the terms and conditions of the loan with the lender.

Shares of IPDC Finance ended 7.36 per cent higher at Tk 70 on the DSE yesterday.