Home ›› 03 Apr 2023 ›› News
Fiber@Home Limited, the largest nationwide transmission service provider in Bangladesh, is going to take a Tk 193 crore long-term loan from the World Bank in a bid to expand its network countrywide.
The loan will be for 15 years, said officials familiar with the matter.
For the first two years, the transmission company will need to pay only the interest after every three months. However, from the third year, it will have to pay both principal and interest every three months.
Abbas Faruk, Chief Regulatory Affair’s officer at Fiber@Home said the money will be spent for network expansion as the country is moving towards massive digitisation to build a smart Bangladesh.
The World Bank lends with a minimum interest rate through Bangladesh Bank as part of its Investment Promotion Scheme. Fiber@Home will borrow the money under the scheme.
The interest rate for the loan will be fixed based on the government's 364-day Treasury bill’s lowest rate or the average rate of interest on deposits.
Meanwhile, recently the government has approved Fiber@Home and Summit technologies to provide high speed internet to 2,600 unions across the country.
