Bangla Bond launched on London Stock Exchange
Published : Monday, 11 November, 2019 at 4:57 PM Count : 232
The government has launched the first taka bond worth around millions of dollars on London Stock Exchange or LSE.
Finance Minister AHM Mustafa Kamal, Prime Minister’s Adviser on Private Sector Industry and Investment Salman F Rahman and Bangladesh High Commissioner to the UK Saida Muna Tasneem attended the enlistment ceremony in London on Monday.
Backed by the World Bank Group’s private sector lending arm International Finance Corporation, the taka-denominated bond is part of a plan to raise funds to invest in private infrastructure projects and public-private partnerships or PPPs in Bangladesh.
Initially, about $10 million will be drawn through bond sales, said Shehzeen Choudhury, the IFC’s communications officer for South Asia.
The government may increase the size of the bond to $1 billion depending on initial interest. The proceeds of the taka bond will be lent to clients in Bangladesh, reports bdnews24.com.