IFC invests $25m in Bank Asia Limited to boost liquidity amid COVID-19

The International Finance Corporation is making a fresh investment in Bank Asia Limited in an effort to provide liquidity to companies affected by the COVID-19 pandemic in Bangladesh and help preserve jobs.

The $25 million loan will provide critical working capital to help small and medium-sized enterprises and corporate clients to continue their operations.  

The financing package is part of IFC's $8 billion global COVID-19 fast-track financing facility, aimed at helping companies stay afloat during the ongoing public health crisis. This investment comes under the Working Capital Solutions program of the COVID-19 response envelope, which provides $2 billion globally to emerging-market banks, enabling them to support struggling firms.