Business Desk :
City Bank recently arranged fund for setting up a HFO based Power Plant ofBanco Energy Generation Limited, Doreen Group with capacities of 53.9 MW at Munshiganj. AKA Bank and Commerzbank of Germany provided ECA (Euler Hermes) backed debt funding worth a total of USD 26 million through City Bank to implement the project, says a press release on Minday.
A Financial Closure Ceremony was organized in Frankfurt, Germany on the successful completion of the financing arrangement. Sohail R. K. Hussain, MD & CEO, City Bank,Stefan Rajmann, Senior Project Manager, Structured Export Finance and Herbert Euler, Senior Counsel, Export Finance of AKA Bank, CathrinKarpinski, Head of International Markets and Alexander Mondorf, Relationship Manager, Indian Subcontinent & ASEAN of Commerz bank signed the agreement on behalf of their respective organizations.
Sheikh Mohammad Maroof, DMD and Head of Wholesale Banking and Mahbub Jamil, Head of Structured Finance of City Bank, Tawfiq Ali, Chief Representative of Commerzbank Bangladesh and other high officials of the organizations were also present.
City Bank recently arranged fund for setting up a HFO based Power Plant ofBanco Energy Generation Limited, Doreen Group with capacities of 53.9 MW at Munshiganj. AKA Bank and Commerzbank of Germany provided ECA (Euler Hermes) backed debt funding worth a total of USD 26 million through City Bank to implement the project, says a press release on Minday.
A Financial Closure Ceremony was organized in Frankfurt, Germany on the successful completion of the financing arrangement. Sohail R. K. Hussain, MD & CEO, City Bank,Stefan Rajmann, Senior Project Manager, Structured Export Finance and Herbert Euler, Senior Counsel, Export Finance of AKA Bank, CathrinKarpinski, Head of International Markets and Alexander Mondorf, Relationship Manager, Indian Subcontinent & ASEAN of Commerz bank signed the agreement on behalf of their respective organizations.
Sheikh Mohammad Maroof, DMD and Head of Wholesale Banking and Mahbub Jamil, Head of Structured Finance of City Bank, Tawfiq Ali, Chief Representative of Commerzbank Bangladesh and other high officials of the organizations were also present.
