City Bank, Water.org partner to boost WASH financing in Bangladesh

City Bank PLC recently signed an agreement with Water.org to launch a two-year partnership initiative aimed at expanding access to safe water and sanitation through innovative micro, small and medium enterprise (MSME) financing and community engagement.

Md Mahbubur Rahman, additional managing director and chief financial officer of City Bank PLC, and Sajid Amit, executive director for South Asia and country director of Water.org, signed the agreement at a hotel in Dhaka , according to a press release

Under the initiative, small and medium entrepreneurs in remote areas will be able to access loans at low interest rates on easy terms. City Bank PLC will provide Tk 200 crore in financing for MSMEs and microfinance institutions (MFIs) operating in the water, sanitation and hygiene (WASH) sector.

The initiative, titled “Shaping the Future of Safe Water”, in Bangladesh, was inaugurated by Forhad Hossain Azad, state minister for water resources, as the chief guest. He emphasised the importance of coordinated efforts to achieve the Sustainable Development Goals (SDGs).

He expressed concern that climate change and declining groundwater levels could lead to a severe safe water crisis in the near future, and highlighted various government initiatives to address the challenge.

Husne Ara Shikha, executive director of the SME and Special Programmes Department of Bangladesh Bank, was present as a special guest. She highlighted how the initiative aligns with sustainable financing policies and stressed the role of the banking sector in achieving SDG 6 (clean water and sanitation) and SDG 8 through inclusive and impact-based lending.

In addition, capacity-building training will be arranged for WASH entrepreneurs, along with courtyard meetings and local community gatherings to raise awareness at the grassroots level. These efforts aim to strengthen safe water, sanitation and hygiene practices across communities.

Among others, Kamrul Mehedi, deputy managing director and head of small, microfinance and agent banking business at City Bank PLC, and Md Mohibur Rahman, executive vice-president and head of agent banking, were also present.