City Bank arranges USD 10 million financing from Norfund

City Bank arranges USD 10 million financing from Norfund

City Bank has recently arranged USD 10 million funds from the Norwegian Development Bank (Norfund) to support Offshore Banking Unit and project financing requirements of the Bank's customers. 

A Financial Closure Ceremony was organized in Oslo, Norway where City Bank Managing Director & CEO Sohail R. K. Hussain and Norfund Chief Executive Officer Kjell Roland signed the agreement on behalf of their respective organizations. Also present were City Bank DMD & Head of Wholesale Banking Sheikh Mohammad Maroof, Head of Structured Finance Mahbub Jamil, Norfund Head of Financial Institutions Erik Sandersen, Senior Investment Manager Marianne Halvorsen and other senior officials from both organizations.