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BB, IFC in deal to reduce social risks in textile industry
Oct '15
Bangladesh Bank (BB), the central bank of Bangladesh, has signed a cooperation agreement with International Finance Corporation (IFC), an international financial institution and a member of the World Bank, to jointly frame guidelines for a policy aimed at reducing the social and environmental risks in the textile industry of Bangladesh, according to media reports.

During the signing ceremony of the deal, called Environmental and Social Risk Management (ESRM), SK Sur Chowdhury, deputy governor of BB asserted that this agreement will reduce the social and environmental risks associated with investing in the textile industry of Bangladesh faced by banks and other financial institutions.

The banks and financial institutions will be provided necessary training on the formulated guidelines.

ESRM deal was signed by the GM of Sustainable Finance department, Manoj Kumar Biswas on behalf of BB and programme manager M Masrur Reaz on behalf of IFC. (MCJ)

Fibre2Fashion News Desk - india

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