A Signing Ceremony of Memorandum of Understanding (MOU) between Bangladesh Association of Software and Information Services (BASIS) and Infrastructure Development Company Limited (IDCOL) was held on Wednesday, 6th August, 2008 at 5:30 pm at Green View, BCFCC, Agargaon, Dhaka. Mr. M Aminul Islam Bhuiyan, Secretary, ERD, Ministry of Finance, Government of the People’s Republic of Bangladesh and Chairman of IDCOL attended the event as the Chief Guest. Mr. Habibullah N Karim, President of BASIS and Mr. M. Ehsanul Haque, Executive Director & CEO, IDCOL signed the memorandum on behalf of their respective organizations. Mr. Anis A. Khan, Managing Director of IDLC Finance Limited was also present.
Under the agreement IDCOL along with its Partner Banks/Financial Institutions will provide short-term/working capital loan for the software and IT solution providers of Bangladesh. Any eligible software or IT Projects/Companies/Firms can receive up to Tk. 10 million at any point of time and the loan can be up to 80% of the work order amount. Initially an amount of 20 crore has been allocated. The term of the loan can be maximum 3 years including 6 months moratorium period. The rate of interest will vary but shall not exceed 11% per annum. The financial support extended by IDCOL will be termed as “Shonchalok”, which could be used for human resource training, payment of salary, to meet internet transmission/connectivity cost and other recurring costs; and for marketing and promotional activities.
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