Bangladesh, Oct. 7 -- Proposals on borrowing two hard-term foreign loans worth US$3.3 billion are set to get government seal of approval today to finance fuel-oil and LNG imports and the upgrading of power-distribution network, officials said.

The Standing Committee on Non-Concessional Loans, headed by Finance Minister Amir Khosru Mahmud Chowdhury, will consider the proposed loans from the International Islamic Trade Finance Corporation (ITFC) and the Asian Development Bank (ADB).

Of the total sum, the ITFC will provide $2.5 billion to Bangladesh Petroleum Corporation (BPC) for financing petroleum import and $600 million to Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) to import LNG or liquefied natural gas.

Non-concession...