Bangladesh Infrastructure Development Company Limited Appoints PricewaterhouseCoopers Securities LLC as Investment Advisor.NEW YORK--(BUSINESS WIRE)--March 3, 1999--The Bangladesh Bangladesh (bäng-lädĕsh`, băng–) [Bengali,=Bengal nation], officially People's Republic of Bangladesh, republic (2005 est. pop. 144,320,000), 55,126 sq mi (142,776 sq km), S Asia. Government-owned Infrastructure Development Company announced this week that is has signed a three-year investment advisory contract with PricewaterhouseCoopers Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of PricewaterhouseCoopers LLP LLP - Lower Layer Protocol . IDCOL was formed in 1997 to promote private sector investment in infrastructure projects and has access to initial funding of US$ 225 million provided by the Government of Bangladesh and the World Bank. IDCOL intends to participate as a lender to projects, on a limited recourse Limited recourse A term describing a type of loan in which the lender has limited or no claim against the parent company if the collateral is insufficient to repay the debt. See:Nonrecourse. project finance basis. Under the contract PricewaterhouseCoopers Securities will advise on project proposals and undertake project appraisals Project appraisal is a generic term that refers to the process of assessing, in a structured way, the case for proceeding with a project or proposal. . It will also assist with setting up the operations of IDCOL in Dhaka, administering its funds and marketing investment opportunities in Bangladesh and the finance available from IDCOL. Mr. Masihur Rahman, Secretary in the Ministry of Finance and Chairman of IDCOL said "With this contract signed, IDCOL is now ready to respond quickly to the needs of foreign sponsors and local investors". A spokesperson for PricewaterhouseCoopers Securities LLC, said "Bangladesh needs significant investment in new infrastructure. The funding available from IDCOL will make financing easier. The immediate priorities include projects in the power, telecoms and transport sectors, and we are looking forward to helping get projects moving in these sectors". |
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