Bangladesh approves power, textile investments

Bangladesh's central bank approved $154 million worth of investment on Tuesday to boost electricity supply and enable a number of textile investments. The move was made by the Investment Scrutiny Committee dealing with approvals of private sector foreign borrowing at a meeting presided over by bank governor Atiur Rahman, a bank statement said. The highest interest rate permitted for the approved investment is a 6-month LIBOR+4.50 percent per annum, it said. The committee said more foreign financing proposals were being processed for consideration.