Bank Asia-Green (IFC-41088)

Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 30, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Bank Asia Ltd
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 29, 2019

Disclosed by Bank Feb 28, 2018


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Project Description

The proposed investment (Project) is a straight senior loan of up to USD 40 Mn to IFC’s existing client, Bank Asia Limited (“Bank Asia” or the “Bank”). The proceeds would be used by the Bank to develop a Green portfolio of loans in renewable energy and energy efficiency. The investment aims to catalyse the growth of Green Lending Programs for Banks in Bangladesh. This will also be FIG’s first climate finance investment with a partner institution in Bangladesh.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Bank Asia is a third-generation private sector commercial bank incorporated on 28 September 1999 in Bangladesh.Bank Asia is a listed entity and as of Dec, 2017, the Sponsors held 51.66% of the shareholding in the Bank, Local institutional investors held 30.82% shareholding and remaining 16.87% shareholding was held by the public.

Contact Information

PROJECT CONTACTS

Bank Asia Limited 
Md. Zia Arfin 
Md. Zia Arfin 
88027110042 
zia.arfin@bankasia-bd.com 
Rangs Tower, 68,Purana Paltan, Dhaka-1000 
http://www.bankasia-bd.com/ 

 

ACCOUNTABILITY MECHANISM OF IFC

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