IFC is investing $50 million in City Bank PLC to enhance SME financing in Bangladesh, aiming to support economic recovery and job creation.
Information on the Target
City Bank PLC is a prominent commercial bank in Bangladesh dedicated to providing a range of financial services, with a strong focus on supporting small and medium-sized enterprises (SMEs). The bank has established itself as a key player in the financial sector, offering loans, deposits, and various banking products tailored to meet the needs of its diverse clientele.
The investment from the International Finance Corporation (IFC) aims to bolster City Bank's capabilities in extending loans specifically for SMEs involved in import and export activities. This strategic partnership is not only expected to facilitate growth for these businesses but also to contribute significantly to job creation and economic stability within Bangladesh.
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Industry Overview in Bangladesh
Bangladesh's economy is primarily driven by the textile and garment industry, which plays a crucial role in contributing to the nation's GDP and employment. However, the landscap
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Disclosed details
Transaction Size: $50M