Dhaka: Eastern Bank PLC (EBL) has successfully secured a US$ 35 million loan from the OPEC Fund for International Development, following the signing of an agreement between the two organizations. This financial collaboration aims to bolster the economic resilience of Bangladesh by enhancing access to finance for small and medium enterprises (SMEs), promoting agribusiness, trade finance, and supporting green initiatives, as stated in a press release today. According to Bangladesh Sangbad Sangstha, Ali Reza Iftekhar, Managing Director of EBL, emphasized the significance of this partnership with the OPEC Fund in stimulating financial support for SMEs, ensuring food security, and fostering green energy projects. He highlighted the loan's potential to contribute meaningfully towards an inclusive, climate-responsive, and sustainable future for Bangladesh. OPEC Fund President Abdulhamid Alkhalifa expressed optimism about the collaboration with EBL, noting that it will aid in strengthening food security, enhancing climate resilience, and creating economic opportunities for people across Bangladesh. He further stated the partnership's focus on supporting SMEs, particularly women-led businesses, to empower local communities and drive towards a more inclusive and sustainable future.
