Home / Knowledge / News / Apparel/Garments / EDF limit for BGMEA members increased to $20mn
EDF limit for BGMEA members increased to $20mn
Jun '16
Bangladesh's central bank, the Bangladesh Bank, has increased the limit of Export Development Fund (EDF) to $20 million from the earlier $15 million for members of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Under the EDF, funds are provided to readymade garment exporters at low interest rate, which is currently 7 per cent per annum.

As per the new directive issued by Foreign Exchange Policy Department of Bangladesh Bank, a BGMEA member manufacturer-exporter will be able to borrow up to $20 million through an authorised dealer bank for procuring inputs against export letter of credit (L/C), firm export contract and inland back-to-back L/C.

Authorised dealer banks will borrow money from EDF for foreign currency financing to BGMEA members.

EDF was formed with the aim to accelerate manufacturing and exports of Bangladesh's garment industry.

For some time now, BGMEA has been making this demand of increasing EDF limit, as it is expected to benefit its members. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 24th Oct 2016

German technology to help in energy saving in textiles

German technology can play a major role making the environment...

Textiles | On 24th Oct 2016

ACIMIT shows sustainable technologies at ITMA Asia

ACIMIT, the Association of Italian Textile Machinery Manufacturers,...

Courtesy: Trupik

Apparel/Garments | On 24th Oct 2016

Virtual 3D fitting rooms revolutionising online shopping

Virtual fitting rooms meant to bridge the gap between e-commerce...

Interviews View All

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search