Together with the Dutch development bank FMO and the Opec Fund for International Development (OFID), OeEB signed a long-term credit line with a total amount of USD 44 million to One Bank Limited in Bangladesh. The funds will be used for providing loans to local small and medium-sized enterprises (SME) as well as for financing renewable energy and Green Finance projects.
Bangladesh is among the world's least developed countries as well as one of the countries most affected by climate change.
The credit line provided by OeEB, FMO and OFID improves access to finance for local SME which play a crucial role in the country's development. This contributes to strengthening the private sector as well as to securing and creating jobs. Moreover, the funds dedicated to Green Finance support the government's aim to promote renewable energy as well as measures to improve energy efficiency and to reduce CO2 emissions. This contributes to mitigating climate change as well as to improving energy supply.
In addition, OeEB provides Advisory Programmes funds for the extension of One Bank's Environmental and Social Management System in order to further incorporate environmental and social issues into the bank's processes. Existing guidelines and processes will be reviewed and trainings will be provided to employees and management.