THE CITY BANK LIMITED (FMO-53978)

Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
A
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
Sep 14, 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
The City Bank Limited (CBL)
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 Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ FMO website

Updated in EWS May 24, 2021

Disclosed by Bank May 20, 2021


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Project Description

According to the bank website, FMO intends to provide a trade finance facility to City Bank Limited (CBL) in cooperation with Asian Development Bank (ADB) to support and promote the increasing trade finance activities of the Bank.

CBL has been classified as FI-A by the bank due to exposure of 18% in potentially high-risk sectors (RMG and textile). The bank states that CBL has functioning Environmental and Social Management Systems (ESMS) and is working on an upgrade of its ESMS with long term support from FMO and IFC.

 

Investment Description
  • Netherlands Development Finance Company (FMO)

CBL has been participating in the Asian Development Bank (ADB) Trade Finance Program since 2015. FMO intends to provide a USD 10mln trade finance facility to CBL in cooperation with ADB.

Financial Intermediary
Private Actors
Private Actors Description

The City Bank Limited (CBL) is a mid-sized private commercial bank incorporated in 1983, being one of the oldest in Bangladesh. It offers a variety of products, with a strong focus on corporate, but offering a wide array of services including SME’s financing, infrastructure financing, retail and agriculture lending and trade financing.

Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism