Abrar A Anwar, Managing Director and Head of Origination and Client Coverage, Standard Chartered Bank, and Md. Shafiqual Haque Choudhury, President, ASA, exchange documents after signing an agreement in Dhaka recently.

Standard Chartered Bank recently signed a Tk 1 billion credit facility agreement with ASA.

The fund will enable ASA, one of the top tier MFIs (micro-finance institutions) in Bangladesh to change the lives of over 60,000 borrowers and their family members across the country, said a press release Wednesday.

Jim McCabe, CEO, Standard Chartered Bank, Bangladesh mentioned that this was the part of SCB’s global initiative to provide support in the microfinance sector across Asia and Africa, which in turn will help some of the poorest people in these regions.

Abrar A Anwar, Managing Director and Head of Origination and Client Coverage, Standard Chartered Bank, Bangladesh and Md. Shafiqual Haque Choudhury, President, ASA signed the agreement on behalf of their respective organisations.

Some senior executives of the bank and ASA were also present.