Prime Bank PLC has recently signed a €20 million Term Loan Agreement with OeEB, the Development Bank of Austria, to expand access to finance for micro, small and medium enterprises (MSMEs) in Bangladesh.
Under the agreement, the financing will be on-lent to eligible MSMEs to support their business growth, expansion, investment and working capital needs.
The facility is expected to strengthen Prime Bank’s capacity to provide tailored financing solutions to businesses that play a vital role in employment generation, entrepreneurship, and economic activity across the country.
Prime Bank’s CEO Faisal Rahman, DMD Shams Abdullah Muhaimin and OeEB’s senior investment officer Ilka Vogel were present at the signing ceremony held in Prime Bank’s head office, Dhaka.
The financing reflects the shared commitment of OeEB and Prime Bank to promoting sustainable economic development and improving access to finance for the MSME sector in Bangladesh.
As the Development Bank of Austria, OeEB supports sustainable and impactful investments in developing countries and emerging markets.
Prime Bank has a longstanding track record of supporting businesses of different sizes through a wide range of conventional and Islamic banking solutions.
The bank continues to focus on expanding responsible and inclusive access to finance for MSMEs while supporting the sustainable growth of Bangladesh’s private sector.
The new facility will further enhance Prime Bank’s ability to meet the evolving financing needs of MSMEs and contribute to sustainable private-sector development in Bangladesh.