Saudi Arabia’s $1.4bn financing to boost Bangladesh’s energy security

Dhaka: A recently signed agreement on a Saudi financing loan for the Bangladesh Petroleum Corp. was expected to boost the South Asian economy’s energy security and reduce pressure on its dollar reserves.

The International Islamic Trade Finance Corp., a division of the Islamic Development Bank, finalized on March 25 a financing deal with the Bangladeshi government to provide $1.4 billion to the Bangladesh Petroleum Corp.

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