LankaBangla receives $15 mn from BlueOrchard Microfinance Fund

LankaBangla Finance has received a loan of $15 million from BlueOrchard Microfinance Fund managed by a Switzerland based impact fund manager BlueOrchard Finance.

The loan proceeds will be utilised to cater to the financing needs of small and medium enterprises (SMEs) and green and sustainable projects as LankaBangla will focus on assisting SMEs to recover from the effects of the pandemic, reads a press release.

“BlueOrchard Finance will continue to support financial institutions catering to the needs of micro, small and medium businesses and to economic, environmental and social development more broadly,” said Normunds Mizis, chief credit officer of BlueOrchard Finance.

The transaction has been arranged by Green Delta Capital Limited, which is also acting as the security agent on behalf of BlueOrchard Microfinance Fund in this transaction.

“Green Delta Capital has always been enthusiastic about reaching newer heights and it has brought BlueOrchard on board for the first time ever in Bangladesh where entire due diligence was done digitally,” said Rafiqul Islam, managing director and CEO of Green Delta Capital.

He also said that Investment in LankaBangla from investors like Blue Orchard will also help to unlock more foreign financing in Bangladesh.