City Bank recently signed a $30 million loan agreement with OPEC Fund for International Development to support international trade through financing import and export companies in Bangladesh.
OPEC Fund Vice President Tareq Alnassar and Sheikh Mohammad Maroof, additional managing director and chief business officer of City Bank, signed an agreement in Vienna at the OPEC Fund Headquarters to promote trade in agricultural and green energy products in Bangladesh, according to a press release.
By partnering with City Bank to provide trade finance to suppliers in Bangladesh, the OPEC Fund will facilitate the flow of goods at a time of supply chain disruptions, thus addressing food insecurity pressures and climate change.
Sheikh Mohammad Maroof said, "We are delighted to enter this strategic partnership with the OPEC Fund. This collaboration signifies a major milestone in our commitment to support the economic growth and development of Bangladesh. By leveraging the trade finance facilities provided by the OPEC Fund, we will be able to enhance the capabilities of our import and export-based companies, particularly in the crucial sectors of agriculture and green energy."
City Bank acquires loan from OPEC Fund
FE Team | Published: June 22, 2024 21:06:17
OPEC Fund Vice President Tareq Alnassar and Sheikh Mohammad Maroof, additional managing director and chief business officer of City Bank, signed an agreement in Vienna at the OPEC Fund Headquarters to promote trade of agricultural and green energy products in Bangladesh.
Share if you like