PROJECT

Projects

Summary of Investment Information

Project Number

39516

Company Name

BRAC BANK LIMITED

Date SPI Disclosed

May 16, 2017

Country

Bangladesh

Region

South Asia

Projected Board Date

Sep 30, 2017

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Oct 13, 2022

Department

CFGS5 - Global Industry, Financial Markets/FIG Operations - CSA

Industry

Financial Markets

Previous Events

Approved : Jun 21, 2017
Signed : Jun 22, 2017
Invested : Jul 26, 2017

Sector

Commercial Banking - SME Finance

Additional Project Attributes

Blended Finance

Project Description

The proposed $50 Mn project is to initiate the Banking on Women (BOW) program in Bangladesh with the association of BRAC Bank Ltd. (“BRAC Bank” or the “Bank”), which is a SME focused bank in Bangladesh. This project is a strong fit to IFC’s Bangladesh strategic pillar of Inclusion and Gender. It is also the first such project in Bangladesh. Banking on Women program will respond to the large unmet demand for financial services for women in Bangladesh, particularly women-owned SMEs.

 BRAC Bank was founded in 2001 and is the second largest private lender in the SME segment in Bangladesh. The bank has total assets of USD 3.4 Bn as on December 31, 2016.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation