FMO, a Dutch entrepreneurial development bank, will provide a term loan of $50 million to Prime Bank to amplify the latter's commitment to inclusivity and sustainability.

The banks inked a strategic partnership agreement to this end recently, the bank said in a press release.

Hassan O Rashid, managing director and CEO of the local bank, and Huib-Jan de Ruijter, co-chief investment officer of the Dutch bank, inked the deal.

This partnership aligns with Prime Bank's vision to foster inclusive and sustainable prosperity through private sector investments that generate positive development impacts.

The collaboration reflects the shared commitment of both organisations to drive positive change and contribute to the economic development of the country.

Established in 1995, Prime Bank has earned a reputation for delivering high-quality and impact-driven banking services to corporate, micro, small and medium enterprises and retail customers in both conventional and Islamic modes.