Bangladesh: In a bid to ease the country's fuel crisis, the Finance Ministry has approved a proposal of the Bangladesh Petroleum Corporation (BPC) to get a loan of $250 million from Standard Chartered Bank for urgent import of fuel oil to meet the demand for the next six months.This is the first time the state-owned petroleum marketing agency, has borrowed from a foreign commercial bank to import oil. BPC imports mainly from Kuwait, Saudi Arabia and the United Arab Emirates, and will need about $2 billion to import oil during the current fiscal year.
The BPC is also negotiating with another foreign bank, HSBC, for a $200 million credit.
