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

Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews

Textiles | On 20th Oct 2017

Turkish group Taypa to build textile factory in Serbia

Turkish textile group Taypa will invest euro 35 million ($41.2...

China’s textile & apparel exports rise 4.3% in Sept ’17

Textiles | On 20th Oct 2017

China’s textile & apparel exports rise 4.3% in Sept ’17

Registering an increase of 4.3 per cent year-on-year, the exports of...

Courtesy: Messe Frankfurt

Textiles | On 20th Oct 2017

Heimtextil to focus on textile solutions for architects

Heimtextil 2018, world's leading trade fair for home and contract...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mark Paterson
Technical Absorbents Ltd

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

Suresh Patel
Sidwin Fabric

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

Silvia Venturini Fendi
Fendi s.r.l

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

Igor Chapurin
Chapurin

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

Ritu Kumar
Label Ritu Kumar

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

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


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