Home / Knowledge / News / Apparel/Garments / Bangladesh Bank inks deal for remediating RMG industry
Bangladesh Bank inks deal for remediating RMG industry
Feb '17
The Bangladesh Bank (BB) has signed an agreement with 25 banks and 10 non-bank financial institutions (NBFI) for disbursing Tk 268 crore to Japan International Cooperation Agency (JICA) funds for remediating the readymade garment industry of the country. Clients can avail loan from this fund to improve the safety measures at their production units.

JICA will help the country's garment sector adopt improved safety measures, said Fazle Kabir, governor of BB while addressing the deal signing ceremony held in Dhaka. He added that it will help improve working conditions and play an important role in assisting the Bangladesh apparel industry to achieve its target of earning $50 billion in exports by 2021.

The loan can be availed by the clients at 6 per cent rate of interest and its repayment tenure will be either 10 or 15 years. Owners of RMG production units will also get a grace period of up to three years for repaying the loan. The maximum amount that a factory owner can get from the fund is Tk 35 crore.

Bangladesh and Japan had partnered for using the JICA fund to improve safety and working conditions at the former country's RMG factories as part of the Urban Building Safety Project. (KD)

Fibre2Fashion News Desk – India

Interviews View All

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...



Italtex is a leading studio publishing fabric trend-books since 1959....

Herbert Guebeli,

Herbert Guebeli

Switzerland-based Sedo Engineering develops technologies for the denim...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Pierre Wiertz, EDANA

Pierre Wiertz

EDANA, the international association serving the nonwovens and related...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2019

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

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search