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
Apparel/Garments | On 27th Jun 2017
Vietnam's Ho Chi Minh City will build large centres for designing...
Textiles | On 27th Jun 2017
Unitin, a trademark of Industrias Morera SA and a leading textile...
Key Textile Accessories Private Limited
Chinese imports are destroying the supply chain
Bolger & O'Hearn
‘The Indian market is interesting and rather persistent in seeking new...
‘Indian footwear market is nascent and largely a trend follower’
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Silvia Venturini Fendi
"Yes, my confidence and positive attitude are my strengths and should be...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...