Press release

The Lafarge Surma Cement plant is the first project supported by the European Investment Bank (EIB) in Bangladesh. The European Investment Bank contributed to this prestigious project through a loan of 30 million euro or 14% of the total project cost. The EIB support to this project reflects the European Commission's commitment to promote trade and investment in Bangladesh. The funds from the European Investment Bank are additional to the 560 million euro allocated in the Country Strategy from 2002 to 2006. The EIB project fits extremely well with the objective to promote trade and investment in Bangladesh.

In his speech, on the occasion of the groundbreaking ceremony, Ambassador Esko Kentrschynskyj, Head of Delegation of the European Commission pointed out that the project complement the substantial grant provided by EU in Bangladesh for social and economic development.

The EIB is the financing institution of the European Union which is providing long-term finance for specific capital projects in keeping with strict banking practice. In this project, it supports two European companies from two different Member States (France and Spain), Lafarge and Cementos Molins, to embark on one of the largest private sector investments in the country involving cross-border investments. The Lafarge Surma Cement project will not only make a significant contribution to the economy by saving foreign exchange for Bangladesh and by making high-quality clinker and cement available in the local market, but also through encouraging other investors to come to Bangladesh with modern technology and to invest more. The European Investment Bank is willing to accompany more European investors to Bangladesh for growth and employment generation.

For more information, please contact:

Tel: 8824730 - Ext. 152

Delegation of the European Commission to Bangladesh
House 7, Road 84
Dhaka 1212
Bangladesh