WCS Crisis Response Prime Bank II (IFC-47461)

  • South Asia
Geographic location where the impacts of the investment may be experienced.
  • Bangladesh
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 28, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Education and Health
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 21, 2023

Disclosed by Bank Dec 9, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC, the proposed project is an up to US$50 million Working Capital Solutions (WCS) facility to be extended to Prime Bank Limited (“Prime Bank” or the “Bank”) in Bangladesh, under the ‘Fast Track COVID-19 Facility’ (FTCF) umbrella. This proposed Project is structured as a one-year facility, renewable for additional two years, for a maximum aggregate tenor of three years. This Project will support working capital, trade finance and foreign exchange liquidity needs of the sub-borrowers (export/import-based enterprises) through Prime Bank’s Off-Shore Banking Unit. A portion of the IFC loan proceeds is expected to be earmarked to support Prime Bank’s climate-eligible working capital and trade-related transactions as per IFC’s eligibility criteria.        

Through this Project, IFC will be offering US$ liquidity support amidst prevailing global economic headwinds and support the Bank in catering to working capital and trade related needs of its clients.                                           

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed Project is an up to US$50 million Senior Loan from IFC’s own account in the form of WCS.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Incorporated in 1995, Prime Bank is the 16th largest private commercial bank in Bangladesh with a total asset size of US$4.1 billion as of September 2022. With a universal banking model, Prime Bank is offering full range of banking products and services to the corporate, MSME and retail customers. Prime Bank is rated as AA in the long term and ST-2 in the short term by a local credit rating agency. It is listed in both the local bourses. Prime Bank is a FIG Investee client since 2014.

As of October 2022, sponsor/directors hold 39.2%, local institutes hold 37.8%, foreign institutes hold 0.5% and public hold 22.5% of the shares.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Syed Faisal Omar
Senior Executive Vice President & Head of Financial Institutions
+88 02 55068680
'Simple Tree Anarkali', Level-3, 89, Gulshan Avenue, Dhaka - 1212


You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works