ICB gets Tk 3,000cr govt loan to stabilise capital market

The Investment Corporation of Bangladesh (ICB) has secured a Tk 3,000 crore loan with a state guarantee to bolster the country's capital market, according to a disclosure on the Dhaka Stock Exchange website.

The loan, approved by Bangladesh Bank, was facilitated through a finance ministry guarantee issued on November 13.  The fund aims at enhancing ICB's investment capacity and repay high-interest deposits and loans.

The interest rate of the approved loan was fixed at the variable bank rate and the loan amount was deposited into ICB's bank account on December 12.