Managing Director & CEO of City Bank Sohail RK Hussain and other high officials of AKA Bank and Commerzbank of Germany seen at a financial closure ceremony in Frankfurt, Germany recently. City Bank recently arranged a fund for setting up a HFO-based power plant of Banco Energy Generation Limited owned by Doreen Group with a capacity of 53.9MW in Munshiganj.
AKA Bank and Commerzbank of Germany provided ECA (Euler Hermes)-backed debt funding worth a total of $26 million through City Bank to implement the project, according to a statement.
A financial closure ceremony was organised in Frankfurt, Germany on the successful completion of the financing arrangement. Sohail RK Hussain, MD & CEO of City Bank, Stefan Rajmann, Senior Project Manager, Structured Export Finance, and Herbert Euler, Senior Counsel, Export Finance of AKA Bank, Cathrin Karpinski, Head of International Markets, and Alexander Mondorf, Relationship Manager, Indian Subcontinent & ASEAN of Commerzbank, signed the agreement on behalf of their respective organisations.
Among others, Sheikh Mohammad Maroof, DMD and Head of Wholesale Banking, Mahbub Jamil, Head of Structured Finance of City Bank, Tawfiq Ali, Chief Representative of Commerzbank Bangladesh, and other high officials attended the programme.
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