Prime Bank, OPEC Fund for International Development seal $30m Term Loan Agreement to boost trade finance

Prime Bank PLC., a leading private commercial bank in Bangladesh, recently announced the successful signing of a US$30 million Term Loan Agreement with the OPEC Fund for International Development (OPEC Fund), a prestigious international development finance institution.

This strategic collaboration is designed to significantly enhance Prime Bank’s capacity to support critical trade finance requirements across the nation's Small and Medium Enterprise (SME), agriculture and corporate sectors, according to a media release. 

The facility, structured as a Term Loan, will be provided to Prime Bank’s Offshore Banking Unit by the OPEC Fund. It carries an initial tenor of one year, with a key provision for extension up to three years.

This financing is poised to reinforce Prime Bank's trade finance portfolio, providing much-needed stability and support to Bangladeshi businesses navigating complex global economic headwinds.

Representing their respective institutions, the signing ceremony featured the Chief Executive Officer (CEO) of Prime Bank PLC. and Dr. Abdulhamid Alkhalifa, President of the OPEC Fund.

In a statement regarding the partnership, OPEC Fund President Dr. Abdulhamid Alkhalifa said, “MSMEs and agribusinesses play a vital role in jobs, food security and economic resilience in Bangladesh, yet many still struggle to access trade finance. Our partnership with Prime Bank will help unlock new opportunities, diversify exports and strengthen the country’s private sector. This loan builds on our long-standing collaboration and reflects our commitment to inclusive, sustainable growth.”

Faisal Rahman, Chief Executive Officer (CC) of Prime Bank PLC, said, “We are delighted to enter into this strategic partnership with the OPEC Fund. The three-year expandable Term Loan facility will meaningfully enhance our capacity to support the trade financing needs of our valued clients. This collaboration comes at a critical time when businesses are navigating uncertainties in the global economic landscape. The OPEC Fund’s support reinforces our relationship and reflects their strong confidence in Prime Bank’s governance, operational resilience, and future ambitions in supporting the national economy.”