ONE Bank gets $44m from int’l lenders

Business Desk | Published: 00:12, Nov 08,2016 | Updated: 00:17, Nov 08,2016

 
 

ONE Bank managing director M Fakhrul Alam, FMO senior investment officer Dave Smit and RSA Capital founder Sameer Ahmad are seen along with others at a Green and SME syndicated term loan signing ceremony of $44 million held in the city on Monday. — New Age photo

ONE Bank has recently entered into a Green and SME syndicated term-loan agreement with FMO, OFID and OeEB for $44 million for a five-year term, said a news release.
The loan will assist OBL to grow its US dollar balance sheet, SME book and Green financing portfolio.
In addition to the loan, the three renowned development financial institutions will assist OBL to improve its environmental, social, and safety standards.
ONE Bank managing director M Fakhrul Alam, FMO senior investment officer Dave Smit and RSA Capital founder Sameer Ahmad were present, among others, in the agreement signing ceremony.
Fakhrul on the occasion said, ‘This loan from FMO, OFID and OeEB will not only strengthen our balance sheet, but also will improve OBL’s footprint in the banking industry and improve our environment, health and safety standards.’
FMO chief investment officer Linda Broekhuizen said, ‘Sustainable financing of Bangladesh’s entrepreneurs has a tremendous positive development impact and will contribute to the aspirational UN Sustainable Development Goals. FMO is proud to partner with OBL in its ambitions to grow its SME activities and activities in Green.’
The term financing was arranged jointly by FMO and RSA Capital.

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