Sonali Bank to finance Tk 5500cr to Payra port

Sonali Bank Limited has signed an agreement to finance Tk 5500 crore for the infrastructural development of Paira Port Authority, a seaport at Kalapara in Patuakhali in southern Bangladesh.

The Bank signed the tripartite agreement with Finance Division and Payra Port Authority at the Finance Division to contribute to the newly-formed Bangladesh Infrastructure Development Fund (BIDF) aiming to finance different development projects from the country’s own fund.   

Prime Minister Sheikh Hasina joined the signing agreement virtually from official residence Ganabhaban on Monday. Earlier, the Premier inaugurated Bangladesh Infrastructure Development Fund.  Sonali Bank Limited would finance the money in the first project of Ramnabad Channel, Bangladesh Bank will issue a loan to Sonali Bank and Sonali Bank will disburse it to the Paira Port as a loan.  

Finance Minister AHM Mustfa Kamal, State Minister for Shipping Khalid Mahmud Chowdhury, and Bangladesh Bank Governor Fazle Kabir also spoke on the ceremony. Sonali Bank Limited Chairman Ziaul Hasan Siddiqui and CEO and Managing Director (Additional Charge) Abdul Mannan were also present at the agreement-signing ceremony.