EBL to get USD 40m from DEG and FMO

Monday, 20 July 2020

Eastern Bank Limited (EBL) recently signed a term loan agreement for USD 40 million with German Investment Corporation - DEG and Netherlands Development Finance Company - FMO, said a statement.
Ali Reza Iftekhar, Managing Director and CEO of EBL signed the agreement with Petra Kotte, DEG Senior Director of FI and German Business and Huib-Jan de Ruijter, Member of FMO's Executive Committee and Director FI.
EBL's Deputy Managing Director and Head of Corporate Banking Ahmed Shaheen and Head of International Business Md. Obaidul Islam; DEG's Senior Investment Manager Financial Institutions Europe and AsiaJeroen Kingma and FMO's Senior Portfolio Analyst Adina Ghilerdea and Investment Officer Evangelos Alamaniotis joined the program with Senior Executives from both the sides.
DEG-FMO will fund EBL in foreign currency to provide financing to corporate, green businesses and SME customers at competitive pricing. The funds will be routed through EBL's Offshore Banking. EBL as a leading Bank in Bangladesh continues funding infrastructural, sustainable and environment focused projects nationwide through strong support from major DFI partners including DEG and FMO. Strong monitoring, quality customer base and foreign DFI partners have made EBL one of the vibrant brandsin the banking industry.