The International Finance Corporation (IFC) has announced its decision to provide a loan amounting to $50 million to Pubali Bank PLC, a prominent financial institution based in Bangladesh. This strategic financing move is being facilitated by legal advisory services from TT&A and DFDL.
Legal Advisory by TT&A
TT&A has been entrusted with the responsibility of advising IFC on this significant financial transaction. The dedicated team from TT&A includes Gautam Saha, Managing Partner; Nikhil Bahl, Partner; Amrit Mahal, Managing Associate; Siddharth Tandon, Managing Associate; and Maansi Mehta, Senior Associate. Their combined expertise has previously proven instrumental for similar loans sanctioned by IFC to other Bangladesh-based enterprises, such as PRAN-RFL Group companies and Popular Pharma.
DFDL’s Role as Bangladesh Law Counsel
In conjunction with TT&A, DFDL is serving as the Bangladesh Law counsel for IFC in this transaction. Their involvement ensures that all legal aspects pertaining to Bangladesh’s jurisdiction are meticulously addressed.
Purpose of the Loan
The $50 million loan is earmarked to bolster Pubali Bank’s working capital and trade-related lending initiatives. Specifically, the funds will be allocated to support eligible sub-loans targeting small and medium-sized enterprises (SMEs), thereby fostering economic growth and development in the region.
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