Dhaka, Feb. 8 -- A government bid begins to borrow $2.10 billion from the Jeddah-based International Islamic Trade Finance Corporation (ITFC) to foot hefty bills for import of petroleum and liquefied natural gas (LNG) to meet fuel shortfalls.

To this end, a loan agreement between the ITFC and the Ministry of Power, Energy and Mineral Resources (MPEMR) was inked Wednesday, MPEMR deputy chief information officer Mir Mohammad Asal Uddin told the FE.

Energy and Mineral Resources Division secretary Md Nurul Alam and ITFC chief operation officer Nazeem Noordali penned the deal from respective sides.

State minister for MPEMR Nasrul Hamid was the chief guest at the deal-signing ceremony.

"This is a milestone for the country," Mr Hamid told th...