Closing Ceremony Held for Shakti Foundation’s Tk 300 Crore Syndicated Term Loan Shakti Foundation, a leading national NGO, has successfully closed a Syndicated Term Loan Facility of Tk. 300 crores (upsize Tk. 500 crores) for its flagship Microfinance Program. Eastern Bank PLC was the lead arranger of the deal.
This loan will help Shakti pursue its mission of socio-economic empowerment of low-income women through SME credit facilities, microfinance and agriculture loans. The participation of 9 leading banks and financial institutions in the syndicated loan facility reflects their commitment to promoting social development of marginalized communities through microfinance.
To celebrate this remarkable achievement, a closing ceremony was organized at Hotel Sheraton, Dhaka on 23rd October, 2023. Mr. Md. Fashiullah, Executive Vice Chairman of Microcredit Regulatory Authority, graced the event as Chief Guest. Humaira Islam, PhD, Founder and Executive Director of Shakti Foundation; Mr. Ali Reza Iftekhar, Managing Director and CEO of Eastern Bank PLC; and Managing Directors of leading banks were present on the occasion.
In his welcome speech, Mr. Imran Ahmed, Deputy Executive Director of Shakti Foundation, highlighted the importance of partnership between Banks and Microfinance Institutions to extend access to finance to underserved communities in order to support their income generating activities and livelihood.
Dr. Humaira Islam thanked the banks for closing the deal and said that it would help Shakti Foundation in their unyielding resolve to empower disadvantaged women to become entrepreneurs, changemakers and leaders.
Managing Director and CEO Eastern Bank PLC, Ali Reza Iftekhar, said that Shakti Foundation is working with full enthusiasm to develop the people of the country. He expressed his hope to stand by Shakti Foundation in the future by providing the organization monetary support for growth and development.
Chief Guest, Executive Vice Chairman of Microcredit Regulatory Authority, Mr. Md. Fashiullah stated that power means women's power. He appreciated Shakti Foundation’s endeavors in helping the disadvantaged by being the torchbearer of women's progress. He requested the co-operation of all the banks present in the effort to improve the lives of the disadvantaged people of Bangladesh.