HSBC facilitates social loan financing for Brac

Business Desk : dhakamirror.com

In a recent program, the Hongkong and Shanghai Banking Corporation (HSBC) in Bangladesh facilitated social loan financing for brac.

In accordance with the agreement, HSBC will provide money to BRAC in the amount of Tk 6.12 billion to carry out social development projects, said a press release.

This is the country’s second social loan principles (SLP)-based financing, the HSBC said the statement.

“The path-breaking deal will open up many untrodden avenues of socio-economic development of the country’s marginal communities”, said Asif Saleh, executive director of BRAC at the event.

Dubbing the agreement as historical, Chief Executive Officer of HSBC Bangladesh Md Mahbub ur Rahman said: “We are delighted to be able to extend our support with the Social Loan financing for Brac. This is part of our global sustainability commitment and I would also like to thank Brac, the largest non-governmental development organisation in the world for partnering with us with an objective to ensure social support in the community.”

Kevin Green, Head of Wholesale Banking, HSBC, Riaz Ahmed Chowdhury, Head of Corporate, Mahbub Reza, Head of Local Corporate, Mahmud Hossain, Country Head of Infrastructure & Public Sector, Jishan Shamsad, Sustainable Finance lead, Mashrur Hasan Khan, VP & Relationship Manager of HSBC Bangladesh were present at the signing ceremony. Senior executives from Brac and members of the Brac Finance Team attended the occasion, the release added