Home / Knowledge / News / Apparel/Garments / USAID inks $22mn deal for safety upgrade in RMG factories
USAID inks $22mn deal for safety upgrade in RMG factories
02
Oct '15
Courtesy: Troy Beckman/USAID
Courtesy: Troy Beckman/USAID
The United States Agency for International Development (USAID) has inked an agreement to provide $22 million for safety upgrades in the apparel factories of Bangladesh, said USAID in a press release.

The much anticipated partnership is signed for two new credit facilities between USAID and the Prime Bank Limited and United Commercial Bank for providing long-term loans specifically to small and medium sized garment suppliers in Bangladesh.

Last month, USAID signed the first agreement of providing funds worth $18 million to readymade garment manufacturers who are members of Alliance for Bangladesh Worker Safety.

The new agreement will provide additional $4 million in the form of bank loans for garment factories which are part of the Bangladesh Accord on Fire and Building Safety and the National Tripartite Plan of Action (NTPA) on Fire Safety and Structural Integrity supported by International Labour Organization (ILO).

The new agreement will also provide eligible readymade garment manufacturers the access to long-term taka and US dollar-denominated loans. These agreements are expected to provide garment manufacturers of Bangladesh adequate finance to improve fire and safety conditions of garment workers.

Alliance for Bangladesh Worker Safety was formed after the factory building at Rana Plaza collapsed in April 2013. There are more than 700 factories under the scrutiny of Alliance. (HO)

Fibre2fashion News Desk - India

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Apparel/Garments | On 24th May 2017

G-III Apparel enters into license agreement with PVH

G-III Apparel Group has entered into a multi-year license agreement...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

news category


Related Categories:
May 2017

May 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