Summit Meghnaghat Repays USD 190 Million Foreign Loan, Enhancing Bangladesh’s Global Reputation

Photo caption: Summit Meghnaghat Power Co Ltd (SMPCL), starting operation in 2014, has repaid all international project financing timely and in full.

(Dhaka), 2nd November 2025, Sunday: Summit Meghnaghat Power Company Limited (“SMPCL”), a subsidiary of Summit Power International, has fully repaid its USD 190 million foreign project financing to an international consortium of lenders — a milestone that strengthens Bangladesh’s image as a credible and responsible partner in global finance.

The project was financed by leading international Development Finance Institutions (DFIs), including Standard Chartered Bank (UK), DEG (Germany), FMO (Netherlands), OFID (Austria), and CDC (UK), alongside Bangladesh’s Infrastructure Development Company Limited (IDCOL). Contracted at interest rates between 7.28% and 7.58%, the loan was repaid in full by 15 October 2025, with no delays since operations began in 2015.

In a letter dated 30 October 2025, DEG — acting as Agent on behalf of FMO (The Netherlands), OPEC Fund for International Development (Austria), and British International Investment (UK) — confirmed that the loan “has been repaid in full according to schedule, representing the successful completion of the Ioan obligations under the DFI Facility.” The letter further noted that “SMPCL has complied with its obligations under the financing arrangements to the satisfaction of the DFI Facility Lenders.”

“This successful repayment reflects Summit’s unwavering commitment to transparency, operational excellence, and responsible partnership with international lenders,” said Muhammed Aziz Khan, Founder Chairman of Summit Group of Companies. “It also showcases Bangladesh’s growing ability to manage large-scale, internationally financed projects with full integrity.”

The 335 MW/ 305 MW Dual Fuel Summit Meghnaghat Combined-Cycle Power Plant, commissioned in 2015, uses General Electric’s advanced technology to produce up to 50% more electricity from the same fuel compared to conventional systems.

By securing foreign financing instead of domestic borrowing, Summit reduced costs, extended repayment periods, and brought valuable foreign capital into Bangladesh — easing pressure on local banks and boosting macroeconomic stability. 

For further enquiry:

Mohsena Hassan

Email: mohsena.hassan@summit-centre.com | Whatsapp/Mobile:+8801713081905