Home / Knowledge / News / Apparel/Garments / Report finds 2 major barriers to remediation in B'desh
Report finds 2 major barriers to remediation in B'desh
20
Jun '16
According to a report by International Finance Corporation (IFC) and International Labour Organization (ILO), there are two major barriers to financial remediation in the Ready Made Garment (RMG) sector in Bangladesh – lack of financial knowledge and high interest rates.

The report titled 'Remediation Financing in Bangladesh's Ready Made Garment Sector: An Overview' was formulated to analyse the cost of safety remediation for structural, electrical and fire safety work in RMG factories, as well as the ability of factories to finance this work.

The total remediation cost for most of the RMG factories in Bangladesh range from $1,00,000 to $2,50,000. Interest rates for the same can range from 9-18 per cent. Also, the factory owners cannot independently tackle audited balance sheets, cash flow projections and profit and loss statements, and need guidance in these matters.

According to the report, remediation activities worth $294 million have been already carried out in the Bangladesh RMG sector.

Approximately $197 million has been allocated for RMG remediation specifically by the country's banking sector and credit facilities. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Apparel/Garments | On 24th Apr 2017

ColDesi launches latest direct to garment printer

ColDesi, a pioneer in the direct to garment printer business, has...

Textiles | On 24th Apr 2017

US’ textile manufacturers applaud Buy American order

US' National Council of Textile Organisations has favoured President...

Courtesy: NASA/JPL-Caltech

Textiles | On 24th Apr 2017

NASA designing advanced woven metal fabrics for space

Scientists at NASA are designing advanced woven metal fabrics for a...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search