EBL partners with IFC to strengthen climate risk management
Eastern Bank has partnered strategically with the International Finance Corporation (IFC) to advance its climate risk management capabilities.
EBL became the first commercial bank in Bangladesh's banking sector to collaborate with IFC to enhance climate risk management frameworks.
This advisory initiative aims to bolster EBL's ability to assess and manage physical and transition climate risks. The project will align EBL's risk practices with international standards, strengthening its resilience to climate-related financial impacts.
Ali Reza Iftekhar, Managing Director and CEO of EBL and Mehdi Cherkaoui, Regional Manager, Upstream and Advisory Services, Financial Institutions Group, South Asia, IFC, recently signed the agreement on behalf of their respective sides in Dhaka.
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Commenting on the partnership, Ali Reza Iftekhar said: "We are proud to be the first bank in Bangladesh to integrate a dedicated climate risk management framework in partnership with IFC. This initiative will strengthen institutional resilience and reinforce our long-term commitment to sustainability and responsible banking."
"It reflects EBL's proactive approach to managing climate-related financial risks and its dedication to supporting Bangladesh's transition to a low-carbon economy."
The Government of Denmark supports the project under the Bangladesh Climate Advisory Partnership.
