Business Desk :
LankaBangla Finance Limited recently received a total of $21 million foreign currency loan from two separate sources.
Before availing the loans, LankaBangla obtained approval from Bangladesh Bank, said a press release.
Of the total received loan, Financing for Healthier Lives DAC provided $5 million and $16 million from five funds managed by responsAbility Investments AG.
Financing for Healthier Lives is a Special Purpose Vehicle (SPV) based out in Ireland established to issue social bonds for the purpose of on-lending.
On the other hand, responsAbility Investments AG is a Swiss impact investment manager.
The proceeds from the loans will mainly be utilized to lend to small and medium enterprises and finance projects which will have a positive social impact.
Earlier in May this year, LankaBangla received another foreign currency loan of $15 million from BlueOrchard Microfinance Fund.
LankaBangla also obtained a foreign currency facility of $20 million from Islamic Corporation for the Development of the Private Sector in 2019.
