The Asian Development Bank (ADB) has awarded Eastern Bank Limited (EBL) the ‘2020 Leading SME Trade Bank’ for its contribution in supporting small and medium-sized enterprises (SMEs) in Bangladesh.
Expressing his satisfaction at the achievement, Ali Reza Iftekhar, managing director and chief executive of EBL, said, “This award reflects how effectively and efficiently EBL has been supporting the businesses of the country by using its global correspondent banking and DFI relationship. It ensures a win-win outcome for the partners including customers engaged, Development Financial Institutions, global correspondent banks and EBL.”
ADB Relationship Manager Can Sutken said, “EBL is a valued partner of the Asian Development Bank and we are pleased to recognise its outstanding contribution in supporting small- and medium-sized enterprises in Bangladesh.”
EBL has been utilising ADB’s funded and non-funded facilities to support international trade businesses, offshore banking and short and long term requirements of its customers. The bank has long been active under ADB’s Trade and Supply Chain Finance program (TSCFP), said a press release.
