City Bank and Water.org take initiative to expand safe water and sanitation

City Bank PLC and Water.org have launched a significant two-year partnership initiative in Bangladesh to expand access to safe water and sanitation through innovative MSME financing and community engagement, reports a press release.

Under this initiative, small and medium entrepreneurs in remote areas will be able to access loans at low interest rates and on easy terms.

Under the recently signed agreement, City Bank PLC will provide Tk 200 crore in financing for Micro, Small and Medium Enterprises (MSMEs) and Microfinance Institutions (MFIs) operating in the Water, Sanitation and Hygiene (WASH) sector.

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 initiatives aim to strengthen the practice of safe water, sanitation, and hygiene (WASH) across communities.

The inauguration ceremony, titled “Shaping the Future of Safe Water,” was recently held at a hotel in Dhaka.

The event was graced by state minister for Water Resources Forhad Hossain Azad, MP as the chief guest, while Husne Ara Shikha, executive director of the SME & Special Programmes Department (SMESPD) of Bangladesh Bank attended as the special guest.

Among others present at the event were Md Mahbubur Rahman, additional managing director and CFO; Kamrul Mehedi, deputy managing director and head of Small, Microfinance and Agent Banking Business; Mohibur Rahman, executive vice president and head of Agent Banking of City Bank PLC and Sajid Amit, executive director, South Asia and Country Director of Water.org, along with senior officials from both organisations.

Representatives from banks, financial institutions, regulatory bodies, and development organisations also attended the program.

During the event, the State Minister Forhad Hossain Azad, MP emphasised the importance of coordinated efforts in achieving the Sustainable Development Goals (SDGs).

He expressed deep 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 this challenge.

The Executive Director of Bangladesh Bank Husne Ara Shikha highlighted how this 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.