IFC reverses decision to issue 'Taka Bond' worth $1 billion in BangladeshFE Online DeskThe International Finance Corporation (IFC) has moved away from its decision to issue 'Taka Bond' worth $ 1.0 billion in Bangladesh.The World Bank’s associate agency came away from the initiative just around a year after deciding about it.The IFC had in April last year formally proposed issuing ‘Taka Bond’ in Bangladesh at a World Bank-IFC meeting in Washington D.C.Finance Minister AMA Muhith, who was attending the meeting, welcomed the initiative.Later in October, Bangladesh also handed over its clearance letter to the IFC about the issuance of the ‘Taka Bond’ at the World Bank-IMF meeting in Lima, Peru.But after a year, the IFC said at the October 7-9 World Bank-IMF Annual Conference that it would not issue the 'Taka Bond'.bdnews24.com reported, quoting Finance Minister AMA Muhith as saying, “The IFC will not be issuing its $1.0-billion Taka Bond, nor are we eager for it. We have around $32 billion in reserves. "Now we are very much thinking about the way of investing it. "Finance Secretary Mahbub Ahmed said, “In fact, the IFC has been unable to raise its fund and so moved away from its decision.”ZR

Source: bd News24 October 26, 2016 07:05 UTC