EBL gets $35 million loan from IFC
Eastern Bank PLC (EBL) has received a $35 million loan from the International Finance Corporation (IFC), a member of the World Bank Group, towards supporting working capital and trade related lending programmes.
The formal loan agreement between IFC and EBL was signed at the bank's head office in Dhaka today (28 January), reads a press release.
Ali Reza Iftekhar, managing director and CEO of EBL, said, "EBL is a strong partner of Bangladesh's development growth. This partnership with IFC will help us extend working capital and trade finance solutions to local corporates and SMEs."
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Allen Forlemu, IFC regional industry director of the Financial Institutions Group for Asia and the Pacific, said, "IFC's investment in Eastern Bank PLC underscores our long-standing commitment to strengthening Bangladesh's financial sector and expanding access to finance for MSMEs.
"Small businesses are the backbone of the country's economy, driving employment and innovation. This investment will provide much-needed liquidity to help SMEs grow, trade, and build resilience in an evolving economic landscape. We are proud to partner with Eastern Bank PLC to support Bangladesh's private sector and foster sustainable economic development."
