Business Report :
BRAC Bank has received Water Supply and Sanitation Financing grant from Water.org, a global nonprofit organization working to bring water and sanitation to the world.
The grant is the first in the banking industry of Bangladesh to develop such a portfolio. The fund will be utilized for developing a Water, Sanitation, and Hygiene (WASH) portfolio under the project ‘Empowering Bangladesh through Financing for Water and Sanitation’, reads a press release.
Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank; and Sajit Amit, Executive Director, Water.org South Asia, signed the agreement at the bank’s head office in the capital recently. Senior management teams from both the organization were present in the signing ceremony. They also discussed the scope and possibilities of the collaboration and how it can be beneficial for WASH beneficiaries in Bangladesh. The project aims to extend financial support to rural communities to access safely managed water and sanitation products, collaborate with technology partners to introduce advanced solutions, improve the quality of water and sanitation services, and offer financial assistance to SMEs in the water and sanitation sector to foster development and sustainability.