LankaBangla Finance Limited, one of the leading non-bank financial institutions of the country, has recently received two foreign currency loans—USD 5 million from Financing for Healthier Lives DAC and USD 16 million from five funds managed by responsAbility Investments AG, said a press release.
Before availing the loans LankaBangla obtained approval from Bangladesh Bank.
The proceeds from the loans will mainly be utilized to lend to small and medium enterprises and finance projects which will have positive social impact.
Financing for Healthier Lives is a Special Purpose Vehicle (SPV) based out in Ireland that has been established to issue social bonds for the purpose of on-lending. On the other hand, responsAbility Investments AG is a Swiss impact investment manager.
Earlier in May this year LankaBangla received another foreign currency loan of USD 15 million from BlueOrchard Microfinance Fund. The NBFI also obtained a foreign currency facility of USD 20 million from Islamic Corporation for the Development of the Private Sector in 2019.
