Prime Bank PLC has recently signed a €20 million Term Loan Agreement with OeEB, the Development Bank of Austria, to expand access to finance for micro, small and medium enterprises (MSMEs) in Bangladesh.
The financing will be on-lent to eligible MSMEs to support business growth, expansion, investment and working capital needs, said a press release.
Prime Bank CEO Faisal Rahman, Deputy Managing Director Shams Abdullah Muhaimin, and OeEB Senior Investment Officer Ilka Vogel were present at the signing ceremony held at Prime Bank’s head office in Dhaka.
The financing reflects the shared commitment of OeEB and Prime Bank to promoting sustainable economic development and improving access to finance for the MSME sector, the bank said. As the Development Bank of Austria, OeEB supports investments in developing countries and emerging markets.
