NDB will provide a loan to City Bank PLC for on-lending to sub-borrowers for financing investments in infrastructure projects in clean energy and energy efficiency, digital infrastructure and e-mobility sectors.

Established in 1983, City Bank PLC is one of the largest and oldest private commercial banks in the People’s Republic of Bangladesh. It is listed both on the Dhaka Stock Exchange and the Chittagong Stock Exchange.

To promote sustainable infrastructure projects in Bangladesh by providing mid to long term financing to the private sector, thereby fostering sustainable economic growth.
The Project will also support climate change mitigation measures in the country.

NDB funds will be on-lent by City Bank PLC to sub-borrowers.

The project has been categorized as Category FI-A in line with NDB’s Environment and Social Framework. Under this project,
the Borrower’s existing Environmental and Social risk management practices will be enhanced, to establish a robust Environmental and Social Management System (“ESMS”), capable of effectively managing the Environmental and Social (“E&S”) risks associated with the sub-projects funded by NDB.

The potential adverse E&S impacts and risks of subprojects will be managed and mitigated through the application of City Bank PLC’s ESMS, as well as the implementation of an Environmental and Social Action Plan, agreed upon with NDB.