Prime Bank inks $50m loan deal with IFC

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Prime Bank Limited (Prime Bank) has signed a US$ 50 million loan agreement with the International Finance Corporation (IFC).

The fund by IFC will be used finance international trade and to disburse loans for businesses in the export processing zones.

In a statement issued on Monday, the bank said its Managing Director Ahmed Kamal Khan Chowdhury and IFC Financial Institutions Group’s South Asia Manager Ariane Di Iorio have recently signed the agreement on behalf of their respective organisations.

IFC is a member of the World Bank Group.