WCSS CityBank II

completed

The project consists of providing a Short-Term Loan (WCSS) for the amount of up to US$35 million (for a tenor of 12 months, renewable up to four times at IFC’s option for an additional 48 months, for a maximum aggregate period of up to 60 months) to The City Bank Limited (the “Bank” or “City Bank”) to support the foreign currency needs of SMEs in Bangladesh. The financing provided is a fit with the World Bank and IFC strategy of promoting economic growth by providing access to finance to underserved market segments and promoting international trade, thereby leading to improved competitiveness, job retention and creation. The Bank commenced operations from 27th March 1983 and has total assets of US$2.27 billion as of December 31, 2014.