Prime Bank PLC recently signed a 30 million dollars term loan agreement with the OPEC Fund for International Development to strengthen its trade finance capacity, particularly for SMEs, agriculture and corporate clients.
The collaboration is aimed at enhancing the bank’s ability to meet growing trade finance needs across Bangladesh’s key economic sectors, said a press release.
The facility, structured as a term loan, will be provided by the OPEC Fund to Prime Bank’s Offshore Banking Unit.
It carries an initial tenor of one year, with a provision for extension up to three years.
The financing is expected to reinforce the bank’s trade finance portfolio, offering stability to businesses amid global economic uncertainties.
Chief executive officer of Prime Bank, Faisal Rahman and president of OPEC Fund Abdulhamid Alkhalifa signed the agreement on behalf of their organization.
