Dhaka, July 5 -- State-run Petrobangla has selected eight local and foreign commercial banks to facilitate the import of expensive liquefied natural gas (LNG), backed by a repayment guarantee from the World Bank (WB), as Bangladesh seeks to secure its future energy supplies and ease pressure on foreign exchange reserves.

Following a competitive tender, Petrobangla shortlisted three foreign banks - Germany's Deutsche Bank, the Development Bank of Singapore, and Standard Chartered - and five local banks - Prime Bank PLC, Eastern Bank PLC, Dutch-Bangla Bank, the City Bank PLC, and BRAC Bank PLC - to provide financial support for LNG imports starting in 2026.

"These banks and financial institutions were selected from among 31 banks and 11 c...