Prime Bank PLC has secured a €20 million term-loan from OeEB, the Development Bank of Austria, aimed at enhancing financial support for micro, small, and medium enterprises (MSMEs) in Bangladesh. The agreement was signed recently at Prime Bank’s headquarters in Dhaka by Faisal Rahman, the bank’s chief executive officer, and Ilka Vogel, senior investment officer at OeEB.

The loan facility is intended to be on-lent to qualified MSMEs, providing them with capital to support business growth, expansion, investments, and working capital needs. These enterprises are recognized as crucial drivers of employment and economic activity within the country.

This financing arrangement aligns with the mutual objectives of Prime Bank and OeEB to foster sustainable economic development by improving MSMEs’ access to tailored financial products. Prime Bank’s existing portfolio includes a range of both conventional and Islamic banking services designed to meet diverse business requirements.

With this new facility, Prime Bank aims to strengthen its capacity to address the evolving financial demands of MSMEs, thereby contributing to private sector development and entrepreneurship in Bangladesh. The initiative underscores the bank’s ongoing commitment to supporting businesses of various sizes and promoting inclusive economic growth.