To arrange a syndicated term loan facility for Bangladesh Lithium Battery Limited for an amount of BDT 3,326 million, Eastern Bank Limited (EBL) arranged a bank syndication meeting with the participation of prospective banks and nonbanking financial institutions at a city hotel, yesterday. EBL is acting as the Mandated Lead Arranger for the loan. Bangladesh Lithium Battery will use the fund in setting up a lithium battery plant with a capacity of 1 GW. The plant will create a backward linkage to its concurrent electronic vehicle project and will effectively address the current market demand for lithium batteries. The milestone project is expected to significantly contribute to sustainable solutions for the energy and transportation sector of the country. This syndication financing will also facilitate environmentally responsible practices and sustainable development in the industry.
