Summit Meghnaghat Power Company Limited (SMPCL), a subsidiary of Summit Power International, has successfully repaid its entire syndicated foreign project loan of $190 million to a consortium of international lenders.
the full repayment, completed by 15 October, without any delay since the plant’s commissioning, has been hailed by Summit as a major milestone that enhances Bangladesh’s reputation as a reliable global partner in infrastructure finance.
the syndicated long-term loan was financed by a group of leading international Development Finance Institutions (DFIs), including Standard Chartered Bank (UK), DEG (Germany), FMO (Netherlands), OPEC Fund for International Development (Austria), and British International Investment (UK), along with Bangladesh’s Infrastructure Development Company Limited (IDCOL).
the facility was contracted at interest rates ranging from 7.28% to 7.58%.