Prime Bank partners with Flowco on green financing for petrol stations
Prime Bank PLC and Flowco Bangladesh Limited have signed a memorandum of understanding (MoU) to introduce dedicated green financing facilities for petrol station owners across Bangladesh.
The agreement was signed at Prime Bank's corporate office, marking a step towards promoting environmentally sustainable practices in the fuel retail sector.
Under the MoU, Prime Bank will provide tailored green financing solutions to eligible petrol station owners, enabling them to adopt advanced technologies for fuel tank cleaning, sludge removal, and vapour emission reduction without significant upfront capital investment.
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The initiative aims to support national sustainability goals and environmental compliance requirements, facilitating a transition towards cleaner and more efficient practices in the downstream fuel retail sector.
The MoU was signed by M Nazeem A Choudhury, Deputy Managing Director of Prime Bank PLC, and Towhid Iftakher Hussain, Managing Director of Flowco Bangladesh Limited.
Also present at the signing ceremony were Mohammad Aminur Rahman, Head of SME Business (Acting), and Shaikh Nur Alam, Head of SME Business and Refinance of Prime Bank PLC; Maruf Alam, Vice-Chairman of Flowco Bangladesh Limited; along with other senior officials from both organisations.
Prime Bank stated that the partnership aims to improve access to financing for environmentally responsible technologies, supporting cleaner operations in the fuel retail sector, and strengthening sustainable practices within the country's energy infrastructure.
