Bank Asia PLC will receive $35 million from International Finance Corporation, a private sector arm of the World Bank Group, said a press release.
The bank will receive the funds for capacity building of micro, small and medium enterprise sector.
Bank Asia PLC managing director Sohail RK Hussain and IFC regional industry director of financial institutions group for Asia and the Pacific Allen Forlemu signed an agreement in this regard at Bank Asia Tower at Karwan Bazar in the capital Dhaka on Monday.
Among others, Bank Asia additional managing directors Shafiuzzaman, ANM Mahfuz, SEVP Zia Arfin and IFC manager of financial institutions group for Bangladesh, Nepal and Sri Lanka Wilfried Tamegnon were present at the signing ceremony.
Allen Forlemu said, 鈥業FC has been a steadfast partner in Bangladesh鈥檚 financial sector, working to expand access to finance for micro, small, and medium enterprises, which are the backbone of the country鈥檚 economy. Our investment in Bank Asia is part of our ongoing commitment to strengthening Bangladesh鈥檚 private sector by ensuring SMEs have the resources they need to grow, trade, and create jobs.鈥�
