Eastern Bank PLC Secures $35 Million IFC Loan To Boost Trade And SME Financing1 min read
Eastern Bank PLC (EBL) has obtained a $35 million loan from the International Finance Corporation (IFC), part of the World Bank Group, to strengthen its working capital and support trade-related financing activities reportedly.
The agreement was officially signed today at EBL’s head office in Dhaka, marking a significant step in strengthening Bangladesh’s financial sector. IFC’s investment reaffirms its commitment to supporting the country’s economic backbone – micro, small, and medium enterprises (MSMEs). These businesses play a vital role in employment and innovation, and the additional liquidity will enable them to expand, trade, and navigate an evolving economic environment.
Read more: Dutch-Bangla Bank Secures Approval For Tk 1,200 Crore Bond
Recognized as a market leader in corporate banking, Eastern Bank finances a diverse range of sectors, from large-scale infrastructure and manufacturing projects to complex trade transactions. Currently, EBL manages 5% of Bangladesh’s total trade business, with SMEs being a key focus of its long-term growth strategy. To accelerate SME development, EBL provides customized lending solutions tailored to their unique needs.
This partnership between IFC and EBL is expected to strengthen Bangladesh’s private sector, promote sustainable economic development, and empower businesses to thrive in a competitive global landscape.
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