Citi Dhaka arranges loan for NGO micro-finance institution

In July 2009, Citi Dhaka helped arrange a syndicated loan (subscribed by a group of local banks) for $21.7 million for BURO, a not-for-profit that is one of the fastest growing microfinance institutions in Bangladesh.

BURO Bangladesh is a specialized micro-finance institution that provides high quality flexible financial services to low-income people, particularly women, who are regarded as its prime customers. To meet their ever-growing financial needs, BURO offers six loan products, three savings products and one insurance scheme. In addition, it provides agriculture loans to small and marginal farmers and also offers enterprise loans to graduate clients.

The Citi arranged loan will enable BURO to help its more than 700,000 customers, 99% of whom are women. It will support the expansion of micro-lending to small farmers and marks the first time that a syndicated loan has been structured for a microfinance institution solely in support of the agricultural sector in Bangladesh.

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Categorisations

Partnership types

Doing business with the poor; Provision of goods

Regions / countries / territories

Americas: 53 countries (show)
Asia: Bangladesh; India

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Financial accessibility and management

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Finance