Wednesday, February 26th, 2020

Buy of Dreamliner Sonali Bank seeks interest waiver loan to Biman Bangladesh Airlines

Wednesday, 26 February 2020 | 3:54 am | 57 times

Buy of Dreamliner  Sonali Bank seeks interest waiver loan to Biman Bangladesh Airlines

Sonali Bank has sought waiver of total amount of interest at Tk 1313.84 crore ($ 15.50 crore ) from the government for providing the credit facility to Biman Bangladesh Airlines for purchase of two new Boeing 787-9, known as Dreamliner, for a period of 10 years with the repayment starting from 2020, banking and finance division sources said . Official of finance division said “We have decided to consider waiving amount of total interest of almost of one thousand three hundred Taka crore for 15 years” “Interest of loan for purchase of two Dreamliner will be varied with the London LIBOR rates” official pointed out . Official also said,Finance division proposal is going to place to finance minister AHM Mustafa Kamal for approval. Accroding to the summary of the proposal the finance division will repay the loan to Sonali Bank Limited in 20 installments from 2021-20 fiscal year . The Bangladesh airlines will repay the loan with the interest rate to the Finance division under Ministry of Finance after 10 years. It is to be noted that the draft of the Loan Facility Agreement signed by the Finance Division, Ministry of Finance, Sonali Bank Limited and Air Bangladesh Airlines tripartite agreement will be signed soon after waiving of total interest rate. Later, Bangladesh Airlines verbally informed that the Finance Division will repay the loan to Bangladesh Airlines under the Loan Faculty Agreement through Sonali Bank Limited. A new loan of outlay of Tk 1698.89 crore ( $ 20 crore) will be created for Sonali bank after adjust of old loan. A source relate to process said Bangladesh Bank will need some more time to get all the work required for this purpose. Earlier, Bangladesh Bank arranged a loan of Tk1002.34 crore ($11.80 crore) for buying two new aircraft for the state airlines in 2013 . Biman Bangladesh Airlines second Boeing 787-9 Dreamliner ‘Achin Pakhi’ landed at Dhaka’s Shahjalal International Airport on December 25,2019. Boeing 787-9 Dreamliner has a total of 298 seats, including 30 business class, 21 premium economy class and 247 economy class seats. Biman has planned to operate Manchester and Heathrow, London routes from beginning of, 2020.

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