BRAC Bank pioneers financing for safe water and sanitation in Bangladesh

BRAC Bank has set a new benchmark in the banking sector by introducing water supply and sanitation financing, in collaboration with Water.org and its microfinance partners. This initiative aims to support rural communities with access to safely managed water and sanitation products, marking a pioneering effort in Bangladesh.

The bank officially launched the program through a ceremony titled 'Improving Lives through Water Supply and Sanitation' at the Lakeshore Hotel on October 16, 2024. The event served as a networking session for Microfinance Institutions (MFIs) and Water.org, facilitating knowledge-sharing, idea exchange, and discussions on innovative solutions.

This groundbreaking initiative will provide financial support to rural communities, collaborate with technology partners to introduce advanced solutions, and improve the quality of water and sanitation services. It will also offer financial assistance to SMEs in the water and sanitation sector to promote development and sustainability.

Selim R. F. Hussain, Managing Director & CEO of BRAC Bank; Syed Abdul Momen, Deputy Managing Director & Head of SME Banking at BRAC Bank; Manoj Gulati, Regional Director, South Asia, Water.org; Tapos Kumar Roy, Head of MFI & Agriculture Financing, BRAC Bank; and senior officials from partner microfinance institutions attended the event.

Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank; Sajid Amit, Executive Director, South Asia, Water.org; S. M. A. Rakib, Coordinator-Special Program, Buro Bangladesh; and M Rezaul Karim Chowdhury, Executive Director, COAST Foundation, participated in a panel discussion on "The Road Ahead: Unlocking New Avenues for Water & Sanitation Financing in Bangladesh." The session was moderated by Mohammad Jakirul Islam, Head of SME Strategy, Innovation & New Business, BRAC Bank.

Representatives from Water.org presented successful case studies and provided insights into scalable and sustainable water and sanitation models. The panel discussion emphasized innovative financing for water projects, advanced sanitation solutions, the role of technology in enhancing water supply systems, and the benefits of industry collaboration.

BRAC Bank is committed to developing a dedicated portfolio under SME financing for the Water and Sanitation program. This initiative, implemented through its partnered microfinance institutions and other SME financing channels, aims to ensure safe and sustainable water and sanitation facilities across rural communities in Bangladesh.