EBL gets $35m loan from OPEC Fund

Eastern Bank PLC received US$ 35 million as loan from OPEC Fund for international development as both the organisations have inked an agreement in Dhaka recently.

The loan has been given to EBL towards building economic resilience of Bangladesh by enhancing access to finance for small and medium enterprises, promoting agribusiness, trade finance and supporting green projects, said a press release on Monday.

Ali Reza Iftekhar, managing director of EBL, said, ‘This partnership with the OPEC Fund will help stimulate our financial support to SMEs, ensure food security, and green energy projects, and contribute meaningfully towards an inclusive, climate responsive and sustainable future of Bangladesh.’

OPEC Fund president Abdulhamid Alkhalifa said, ‘Our partnership with EBL will help strengthen food security, climate resilience, and economic opportunities for people across Bangladesh.’

‘By supporting SMEs, especially women-led businesses, we aim to empower local communities and contribute to a more inclusive, sustainable future,’ he added.

Source: New Age | 11 November 2024