AB Bank Limited signed Long Term Financing Facility Agreement under FSSP with Bangladesh Bank

AB Bank Limited has signed an agreement with Bangladesh Bank, as the implementing agency of the Long Term Financing Facility under Financial Sector Support Project [FSSP]. Under the programme AB Bank as a Participating Financial Institution (PFI) will provide long term foreign currency financing (USD) to private sector firms. The financing will be available to exporters, small and medium scale enterprises and other private sector firms (expected to be mainly manufacturing units) in the country. This will contribute to these firms’ enhanced competitiveness, enable them to acquire emerging business opportunities and also contribute to job creation and economic growth. In addition, the facility and related safeguard requirements would contribute towards the improvement in compliance with health and safety standards in Bangladesh. Mr. Shamim Ahmed Chaudhury, President and Managing Director of AB Bank Limited and Mr. Subhankar Saha, Executive Director and Project Director of FSSP signed the agreement on behalf of their respective organizations. Senior executives of both the organizations were also present at the signing ceremony.