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BIFFL and Ispahani signed a financing agreement under JICA’s refinancing scheme

Bangladesh Infrastructure Finance Fund Limited (BIFFL) and M M Ispahani Limited signed an agreement for a financing up to Tk 55 crore under the Energy Efficiency and Conservation Promotion Financing (EECPF) of JICA for setting-up an energy-efficient Textile Mill named Pahartali Textile and Hosiery MillsUnit-5 at Chattogram on 20 January 2019.

On that occasion a signing ceremony was arranged in the port city, Chattogram, said a press release.

S. M. Formanul Islam, Executive Director and CEO, BIFFL and Mirza Salman Ispahani, Chairman, M M Ispahani Limited signed the agreement on behalf of their respective organization.

Directors of CCC&I, business delegates of Chattogram, representatives from JICA and different Banks and FIs and officials of BIFFL were present in the event.

Md. Sagir Hossain Khan, Chief operating officer, BIFFL addressed the welcome speech in the ceremony.

Mirza Salman Ispahani, Chairman, M M Ispahani Limited and Mahbubul Alam, President, Chittagong Chamber of Commerce and Industry also addressed the occasion.

S.M. Formanul Islam, Executive Director & CEO, BIFFL, delivered the closing remarks of the program.

In the closing remarks, S. M. Formanul Islam expressed his concern regarding the continuous growing demand-supply gap of primary energy of Bangladesh. Statistics shows that the gap surged from 6,066 MW to 9,268 MW from 2012 to 2014.

He prudently pointed that, saving of one unit of electricity means not required to be generated that much unit which saves the cost for fuel of generation as well as maintenance.

Islam reiterated government’s determination of saving energy in all aspects as we are immensely depended on import for primary energy.

To achieve the globally accepted Sustainable Development Goals (SDGs), it is highly required to promote the energy efficient technologies as an alternative solution to replace those outdated technologies. Finally, Islam expressed his gratitude to JICA to extending soft loan for Energy Efficient Equipment.

BIFFL being the largest financial institution of the country is committed to support this industrial transformation.

BIFFL has already committed more than Tk 500 crore in 8 energy efficient projects with 10 more in pipeline.

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