The Hongkong and Shanghai Banking Corporation (HSBC) in Bangladesh facilitated social loan financing for BRAC in a programme recently.
Under the agreement, BRAC will receive Tk 6.12 billion in financing from HSBC to implement social development projects, said a press release.
“The path-breaking deal will open up many untrodden avenues of socio-economic development of the country’s marginal communities”, said Asif Saleh, executive director of BRAC at the event.
Terming the agreement as historical, Md Mahbub ur Rahman, CEO of HSBC Bangladesh, said, “We are delighted to be able to extend our support with the Social Loan financing for BRAC. This is part of our global sustainability commitment and I would also like to thank BRAC, the largest non-governmental development organisation in the world for partnering with us with an objective to ensure social support in the community.”
Kevin Green, Head of Wholesale Banking, HSBC, Riaz Ahmed Chowdhury, Head of Corporate, Mahbub Reza, Head of Local Corporate, Mahmud Hossain, Country Head of Infrastructure & Public Sector, Jishan Shamsad, Sustainable Finance lead, Mashrur Hasan Khan, VP & Relationship Manager of HSBC Bangladesh, and BRAC’s senior executives and finance team representatives were present at the signing ceremony, the release added.