NEW DELHI: The World Bank’s private sector financing arm said yesterday it would raise $2.5 billion in Indian rupee- denominated bonds to fund much-needed infrastructure projects across the country, reports AFP.

The debt sale by the International Finance Corporation (IFC), the largest global development institution focused on the private sector, marks one of India’s biggest-ever financing offers.

The proceeds of the bond sale will be used to help finance India’s ambitious infrastructure programme to overhaul its shabby roads, ports and airports among other projects.

India requires big investment to carry out the planned infrastructure programme, expected to cost around $1 trillion in the five years to 2017.

But a shallow bond market and lack of other longterm financing have hampered efforts to raise the necessary money.

Leading Indian financial daily, The Economic Times, called the bumper debt sale a “vote of confidence in the Indian economy” under the country’s new right-wing premier Narendra Modi.

 City Bank Limited recently signed agreements with some banks and financial institutions on issuing Coupon-Bearing Subordinated Bond worth Tk 3 billion.

IDLC Finance Limited is the arranger of the issue, said a press release issued on Thursday.

The issue will enhance Tier-II capital of The City Bank Limited following “Guideline of Risk-Based Capital Adequacy” of Bangladesh Bank and therefore ultimately increase issuer’s Capital Adequacy Ratio (CAR), the press release said.

Mercantile Bank, Brac Bank, Meghna Bank, IDLC Finance, NRB Bank, NRB Commercial Bank, Pubali Bank, SABINCO, Dhaka Bank and United Leasing Company are the subscribers of the bond.

Fauk M. Ahmed, Acting Managing Director of The City Bank Limited, Selim R. F. Hussain, CEO and Managing Director of IDLC Finance Ltd and senior executives of subscriber banks and financial institutions signed the agreements on behalf of their organisations.

BASIC Bank disbursed more than Tk4,500 crore in loans

 AB Bank Limited organised a two-day training programme at the bank’s Training Academy at Dhanmondi in Dhaka recently.

The training programme “Account Opening & General Banking” was organised for 42 branches of the bank, said a press release.

Some 62 officers attended the training programme.

This programme was intended to provide adequate knowledge as regards to account opening procedure, products, aspects of customer service, tax and Vat pertaining to different account types, so that they can manage their responsibilities efficiently and provide a high standard of customer service.

Sajjad Hussain, Deputy Managing Director, Operations and Chief Risk Officer and Md. Aminur Rahman, Senior Vice President, Operations were present on the occasion.

Dhaka: Bangladesh Commerce Bank Training Institute recently organized a Training workshop on “Business Development & Customer Care”. Managing Director & CEO, Abu Sadek Md. Sohel, inaugurated the course as Chief Guest. Among others as Guest in honour, Prof. Dr. Toufic Ahmad Chowdhury, Director General, BIBM, Principal of the Institute M Abu Hena & Md. Mobarak Hossain, AVP and Faculty member were present on the occasion, reports in a press release.