IFC’s inaugural Bangladeshi Taka ‘Bangla’ Bond raises US$9.5m to Support Private Sector Development

BANGLADESH—IFC, the largest global development institution focused on the private sector in emerging markets, has issued its inaugural bond in Bangladeshi Taka, raising 800 million BDT (about US$9.5 million) to support private sector development. IFC revealed in a statement that the funds will be used to expand operations and distribution for PRAN Group, one of Bangladesh’s leading processed food and beverage manufacturers, and a major private sector employer in the country. The bond, dubbed ‘Bangla’, has just been listed on the London Stock Exchange and is the first-ever Bangladeshi Taka-denominated…

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