The Asian Development Bank (ADB) and the City Bank Limited on Thursday signed a loan agreement for $5.0 million to support import and export financing for businesses in Bangladesh.
Under the agreement, the ADB's Trade Finance Programme (TFP) will provide trade loans to the City Bank for onward lending to local firms.
According to the ADB website, the City Bank became a partner of the ADB's TFP early 2016 under its guarantee product.
Since that time, the ADB and the City Bank have worked on eight transactions together valued at $15 million.
The revolving credit facility signed on Thursday is an expansion of the ADB TFP-the City Bank relationship, which will provide even more support to companies operating in Bangladesh.
smunima@yahoo.com [Read More]

—–
Source: The Financial Express