Home / Knowledge / News / Textiles / Refinancing fund to revive jute sector
Refinancing fund to revive jute sector
01
May '10
In its attempt to restore the jute industry, Bangladesh Bank (BB) has created Tk 5 billion worth re-financing fund for them.

The fund was recently approved by the Board of Directors of BB and it will be distributed to 16 public listed jute mills, through state-owned commercial banks.

The decision of creating this fund came in accordance with the Prime Minister, Sheikh Hasina's directive of creating a fund, during a meet at her office in January.

The BB officials informed that, these 16 jute mills had, during the period July-January, acquired around Tk 8 billion worth of raw jute. However, they failed to acquire more quantity, despite the requirement, due to scarcity of funds.

The central bank officials stated that financial crisis for jute mills will come to an end as they will be able to obtain funds from BB's refinancing fund.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 1st Mar 2017

CMAI's Apparel Index for Q3 shows lowest growth at 1.4 pts

CMAI’s Apparel Index for the third quarter FY 2016-17 shows that the...

Courtesy: Carter

Apparel/Garments | On 1st Mar 2017

Kidswear retailer Carter’s acquires Skip Hop Holdings

US headquartered kidswear retailer Carter’s said it has acquired Skip ...

Courtesy: Lectra

Information Technology | On 1st Mar 2017

Lectra makes new strategy for fashion in Industry 4.0 era

Lectra, the world leader in integrated technology solutions, has...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Kevin Nelson
TissueGen

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel
Sidwin Fabric

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

Madhu Jain
Madhu Jain

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search