Aavishkaar Capital invests $5m in Midland Bank

The ESG First Fund, managed by Aavishkaar Capital, has announced its fifth investment of US$ 5 million in Midland Bank, says a press release.
This fund, established in partnership with KfW, a German state-owned development bank, is dedicated to investing in Emerging Asia and Africa. Its primary aim is to deliver superior Environmental, Social, and Governance (ESG) outcomes while also generating financially viable returns and fostering positive social impact within global supply chains.
Midland Bank and the ESG First Fund have collaborated to create an on-lending facility specifically designed to support ESG-compliant businesses within Bangladesh's RMG and textile value chain, serving clients globally.
This collaborative effort not only seeks to offer financial support but also strives to enhance and elevate the ESG practices of the supported borrowers.
An agreement to this end was signed between the bank and Aavishkaar Capital at the bank's Head Office in Dhaka recently. Md Ahsan-uz Zaman, Managing Director & CEO of Midland Bank, and Abhishek Mittal, Partner of Aavishkaar Capital, were present at the signing ceremony.