ITFC releases USD 15 mln to support SMEs in Bangladesh

City Bank is the latest partner institution to work with ITFC as it expands its financing outreach to the private sector through local banks in Bangladesh. The financing comes at a time when SMEs in Bangladesh and other OIC member countries face the social and economic effects of the coronavirus pandemic, which has disrupted global trade and strained financial resources.

The financing and grants being rolled out by ITFC, as part of the IsDB Group COVID-19 Response Package, are supporting preparedness for the pandemic through the provision of medical supplies, staple foods and fertilizer for agricultural production to OIC countries including Bangladesh, Egypt, Kyrgyzstan, the Maldives, and Senegal.

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