June 21, 2024, 4:02 pm

Staff Correspondent

2021-11-28 01:16:54 BdST

LankaBangla Finance receives $21m foreign currency loan

LankaBangla Finance Limited, a non-bank financial institution in the country, has recently received two foreign currency loans — $5 million from Financing for Healthier Lives DAC and $16 million from five funds managed by responsAbility Investments AG.

The NBFI obtained approval from Bangladesh Bank before availing the loans, a press release said.

The proceeds from the loans will mainly be utilised to lend to small and medium enterprises and finance projects which will have positive social impact, it said.

Financing for Healthier Lives is a special purpose vehicle (SPV) based out in Ireland that has been established to issue social bonds for the purpose of on-lending, while responsAbility Investments AG is a Swiss impact investment manager.

Earlier in May, LankaBangla received another foreign currency loan of $15 million from BlueOrchard Microfinance Fund.

In 2019, the NBFI also obtained a foreign currency facility of $20 million from Islamic Corporation for the development of the private sector, read the release.

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