A PRAN-RFL Group company has signed a loan agreement worth USD 15 million with a German finance and development organisation.
Banga Building Materials Limited (BBML), a sister concern of PRAN-RFL Group, signed the deal with Deutsche Investitions - und Entwicklungsgesellschaft mbH (DEG) of Germany on Wednesday.
According to a UNB report, the loan will be used to extend the existing capacity of the company and set up new production lines for fans and energy-saving LED lights of BBML.
Corporate Finance Director of PRAN-RFL Group Uzma Chowdhury and Regional Director of DEG Jochen Steinbuch signed the agreement on behalf of their respective organisations.
RFL Group Managing Director RN Paul, Deputy Manager of Corporate Finance Department Md Israfil, DEG’s Director of Portfolio Management Antje Steiner and Investment Manager Florian Borgmann, among others, were present on the occasion.