City Bank arranges $10m financing from Norfund

City Bank has recently arranged $10 million funds from the Norwegian Development Bank (Norfund) to support Offshore Banking Unit and project financing requirements of the bank's customers.

A Financial Closure Ceremony was organised in Oslo, Norway where City Bank Managing Director & CEO Sohail R. K. Hussain and Norfund Chief Executive Officer Kjell Roland signed the agreement on behalf of theirrespective organisations, according to a statement.

Among others, City Bank DMD & Head of Wholesale Banking Sheikh Mohammad Maroof, Head of Structured Finance Mahbub Jamil, Norfund Head of Financial Institutions Erik Sandersen, Senior Investment Manager Marianne Halvorsen and other senior officials from both organisations were also present on the occasion.