Bangladesh Economic Zones Authority will borrow Tk 365 crore from Bangladesh Infrastructure Finance Fund Limited (BIFFL) for acquisition of 352 acres of land for Shreehatta Economic Zone in Moulvibazar.

The financial institution will give loans for 10 years at 5 percent interest in the first three years and 9 percent interest for the remaining years under a deal signed yesterday.

After the signing ceremony, Paban Chowdhury, executive chairman of BEZA, said BEZA has been working to establish 100 special economic zones across the country within the next 15 years to boost employment and foreign direct investment.

He also said the SEZs for investors from India, China and Japan are almost ready as BEZA earlier committed to provide such specialised zones for the investors of those countries.

“We have a plan to develop 75,000 acres of land for the SEZs,” Chowdhury said. Another zone on 25,000 acres of land will be developed at Moheshkhali in Cox's Bazar district, according to Chowdhury. The BEZA has already selected 37 economic zones for establishment. China, Japan and India are going to develop at least six economic zones in Chittagong, Dhaka, Mongla and Kushtia, thanks to attractive and competitive incentives, Chowdhury said.

SM Formanul Islam, chief executive officer of BIFFL, also spoke.