Austrian OeKB issues $94.85 million ECA guarantee to GPH

Posted by:admin in Export Finance, Finance, Steel News

Oesterreichische Kontrollbank AG (OeKB), a specialised institution owned by commercial banks of Austria has issued ECA (export credit agency) guarantee worth $94.85 million to Chittagong-based GPH Ispat recently.

The guarantee letter was issued so that GPH Ispat can avail a loan of similar amount at soft interest rate from BHF Bank of Germany.The letter was handed over to the GPH authorities at an event held at the Vienna head office of OeKB, GPH officials said today.