Lenders look for a reliable revenue stream from a creditworthy offtaker or concession, clear and enforceable project contracts, secure land rights, a fixed-price and date-certain construction contract with a capable contractor, adequate insurance, the necessary approvals and a security package they can enforce. Termination payments, currency convertibility, change in law protection and international arbitration are especially important for foreign lenders. Government support, such as guarantees or letters of comfort, can be decisive. We review each element early and tell sponsors which points will cause difficulty in infrastructure finance negotiations. Early review lets sponsors fix gaps before lenders' advisers do.

Under the Invest Bangladesh Act 2026, the PPP Authority was merged with BIDA and BEZA into Invest Bangladesh, which has operated since 23 August 2026. PPP projects in the pipeline now deal with the new body, alongside the relevant line ministries and contracting authorities. Many practical questions concern transitional arrangements: how earlier approvals, procurement steps and viability gap funding decisions carry over, and which forms and procedures now apply. We review each project's approval history and help sponsors and lenders update conditions precedent and representations to reflect the new structure accurately, which gives lenders certainty about the counterparty.

Generally yes. A foreign currency loan to a Bangladeshi project company normally needs approval through the foreign borrowing route involving Invest Bangladesh and Bangladesh Bank, which will review the lender, amount, pricing, tenor and tenor. Export credit agency and multilateral loans follow the same broad framework, although some government-backed projects follow different routes. Offshore accounts and hedging may need separate permissions. We prepare applications, align the finance documents with the approval, and plan the timetable so that approval does not delay financial close. Infrastructure finance timetables depend on it. File as soon as the main terms are settled.

Lenders typically take a mortgage or charge over the project company's interest in land, which is often leasehold from a public authority and may need its consent, hypothecation of plant, equipment and receivables, charges over project accounts, assignment of project contracts and insurance proceeds, and a pledge of the sponsors' shares. Direct agreements with the offtaker, contracting authority and EPC contractor give lenders notice and step-in rights. Security is registered and filed with the RJSC. We design the package with the lenders' counsel so that it is complete and enforceable. A missing consent or registration can weaken the security.

Many Bangladesh infrastructure projects earn revenue in taka but borrow in foreign currency, so lenders look for tariff indexation to foreign currency, government assurances on convertibility and transfer, and access to foreign exchange through the banking system. Pressure on foreign reserves in recent years has made these points more sensitive. Political risk insurance and multilateral participation can reduce risk. Hedging options in the local market are limited. We review the contractual and regulatory protections available for the project and how they are reflected in the finance documents and the approval. Infrastructure finance lenders weigh these points heavily.

Yes. Islamic banks in Bangladesh provide substantial project and corporate finance, and Shariah-compliant structures such as ijarah, musharakah and istisna can be used for construction and operation phases. The government has issued sukuk to fund infrastructure, and corporate sukuk can be issued under the securities rules with BSEC approval. Islamic tranches can sit alongside conventional debt under a common intercreditor framework. We advise on structuring, Shariah and regulatory approvals, documentation and how Islamic and conventional lenders share security and enforcement rights. Infrastructure finance in Islamic form is growing steadily. Structures must be agreed early.

Export credit agencies support loans linked to equipment and services from their home countries, and multilateral and bilateral development banks provide long-tenor loans, guarantees and political risk cover. Their participation often makes commercial lenders more comfortable and can improve pricing and tenor. Each brings its own policies on environment, social standards, procurement and sanctions, which affect project documents and conditions precedent. We act as Bangladesh counsel in ECA and DFI-backed infrastructure finance, aligning local law steps with the agencies' requirements and timetables. Their policies shape the documents significantly. We coordinate closely with agency counsel.

Delays and disputes are common in large projects. The finance documents set out what lenders can require, including cure periods, revised schedules, additional equity and, in serious cases, step-in or enforcement. The EPC contract and concession decide claims for extension of time, delay damages and compensation, often through dispute boards and arbitration. Early legal input preserves claims and lender support. We advise sponsors and lenders on rights under each document, negotiate waivers and amendments, and act in dispute proceedings while keeping the financing intact. Notify lenders and counterparties in line with the contract deadlines. Records must be kept carefully.