PROJECT

Projects

Summary of Investment Information

Project Number

39690

Company Name

PRIME BANK PLC.

Date SPI Disclosed

May 10, 2017

Country

Bangladesh

Region

South Asia

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Jun 9, 2017
Signed : Jun 18, 2017
Invested : Jul 5, 2017

Sector

Commercial Banking - General

Project Description

The proposed project consists of a short-term loan (Working Capital Solutions, WCS) for up to $50 million to Prime Bank Limited (the Bank or Prime Bank) to support the foreign currency needs of small and medium enterprises (SMEs) in Bangladesh. The financing provided is a fit with the World Bank and IFC strategy of promoting economic growth by providing access to finance to underserved market segments and promoting international trade, thereby leading to improved competitiveness, job retention and creation.

The Bank commenced operations on April 17, 1995 and has total assets of $3.3 billion as of December 31, 2016.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation