Eastern Bank Limited (EBL) signed a term facility agreement with the Development Bank of Austria – OeEB – to provide financial support in foreign currency to Bangladeshi RMG and SME clients.
The financial support will be offered at a competitive interest rate, said a media statement issued on Wednesday.
"EBL is delighted to initiate a partnership with OeEB. This deal marks the beginning of a relationship with OeEB that will contribute significantly to the economy of the country ensuring sustainable growth in key sectors," said Ali Reza Iftekhar, managing director of EBL.
EBL is funding international trade business, infrastructure projects, sustainable and environment focused projects across Bangladesh through strong support from wide network of correspondents around the globe and major DFI partners.
Based on strong relationships with world's largest banks and DFIs including OeEB, the Eastern Bank has been supporting international trade business, and fulfilling short and long term requirements of local corporates and SMEs.