BRAC Bank and European Investment Bank Global partner to accelerate Bangladesh's green transition
BRAC Bank has secured a €60 million financing agreement with EIB Global, the development arm of the European Investment Bank, to support green and circular investments across Bangladesh's private sector. The facility marks the longest-tenor funding ever extended by a development finance institution to a commercial bank in Bangladesh.
The financing comprises a €40 million loan expected to support more than 2,500 small enterprises through investments in renewable energy, cleaner production, and waste reduction, and a €20 million framework loan targeting Bangladesh's ready-made garment and textile sectors, which account for around 85% of the country's exports. As EU buyers and legislation increasingly require more sustainable supply chains, the financing will help Bangladeshi businesses meet rising sustainability standards and remain competitive in European markets.