City Bank recently signed a $30 million loan agreement with the OPEC Fund for International Development to support global trade by providing financing to importers and exporters in Bangladesh, especially in the agriculture and green energy sectors.
Tareq Alnassar, vice-president of the OPEC Fund, and Sheikh Mohammad Maroof, additional managing director and chief business officer of the bank, penned the deal at the Fund's headquarters in Vienna, said a press release.
Alnassar said, "By partnering with City Bank to provide trade finance to suppliers in Bangladesh, the OPEC Fund will facilitate the flow of goods at a time of supply chain disruptions, thus addressing food insecurity pressures and climate change."
Maroof said, "We are delighted to enter this strategic partnership. This collaboration signifies a major milestone in our commitment to support the economic growth and development of Bangladesh."
