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Prime Bank signs financial deal with IFC

Published : Sunday, 25 October, 2020 at 12:00 AM  Count : 176
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Prime Bank signs financial deal with IFC

Prime Bank signs financial deal with IFC

Prime Bank Ltd has recently signed Covid-19 Working Capital Solutions (WCS) facility loan agreement with International Finance Corporation (IFC).
Prime Bank's Managing Director and CEO Rahel Ahmed and IFC's Regional Industry Director, FIG - Asia and Pacific Ms. Rosy Khanna signed the agreement on behalf of their respective organizations in a virtual signing ceremony recently, says a press release.
Under this agreement IFC will provide US Dollar liquidity to Prime Bank for on-lending as trade or working capital loans to companies whose cash flows have been disrupted by the global outbreak of the coronavirus pandemic. This is the third consecutive time Prime Bank is availing WCS facility from IFC.
It will support working capital, trade finance and FX liquidity needs of the sub-borrowers through Prime Bank's Off-Shore Banking Unit. This support is targeted in the context of responding and helping with the resilience measures around Covid-19 crisis. IFC Country Manager for Bangladesh, Nepal and Bhutan Ms. Wendy Werner, Principal Investment Officer Ehsanul Azim and Prime Bank's DMD and CBO Faisal Rahman, Head of Structured Finance and Transaction Banking Shams Abdullah Muhaimin were present along with other senior executives from both parties in the occasion.











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