Oct 11, 2021
What are the procedures to be performed to obtain the prior permission of BIDA to avail foreign loan? • Prior approval of BIDA is required for borrowing from abroad in foreign currency (commercial loan, buyer’s and supplier’s credit, etc.) to import capital goods for new project, replacement or expansion of the existing production facilities. • No permission is granted to avail foreign loan to use as working capital .
• The Scrutiny Committee on Foreign Loan/Supplier’s Credit award approval to avail foreign loan. The application for foreign loan has to be submitted to BIDA in the prescribed form with following supporting documents:
Board’s resolution related to the proposed borrowing,