The Government intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in United State Dollars (USD) or Japanese Yen (JPY) or Euro or their combinations up to a limit of USD 1,000 million or its equivalent in 2018, Central Bank said.
The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD, JPY or Euro 6 Month LIBOR or its successor with a maturity period of 3 years or more.
The proceeds of the FTFF will be used for the purposes of financing the expenditure as approved in the Budget for the Fiscal year 2018.
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