Home / Knowledge / News / Textiles / Dhaka to approach GCF for textile sector energy efficiency

Dhaka to approach GCF for textile sector energy efficiency

02
Jun '19
Dhaka to approach GCF for textile sector energy efficiency
The Infrastructure Development Company Limited (IDCOL) in Bangladesh will seek $100 million in loans from the Green Climate Fund (GCF) and hopes to secure a further $66 million through borrower co-financing. This is part of the $166 million in funds that the country is looking at securing to improve energy efficiency in the textile sector.

Based in South Korea’s Incheon, GCF is a fund established within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) as an operating entity of the financial mechanism to assist developing countries in adapting practices to mitigate impact of climate change.

IDCOL hopes to secure $66 million through borrower co-financing, according to Bangla media reports.

Stakeholders exchanged views in Dhaka recently at a workshop on energy efficiency in the textile sector and its influence on the environment, society and gender, organised by IDCOL with support from implementing partners.

The funds being sought will have a five-year disbursement period and a 10-year repayment period with a two-year grace period, IDCOL’s GCF unit manager Mafruda Rahman explained.

IDCOL, a non-bank financial institution working in the medium to large-scale infrastructure and renewable energy financing space, is accredited by the GCF to handle loans of up to $250 million. The company includes both senior government officials and three private sector representatives on its board.

The proposal to GCF is likely to be submitted by September this year. If approved, IDCOL will be authorised to identify local recipients of funding. There are currently three approved GCF funded projects in Bangladesh. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 21st Jul 2019

Vietnam's export revenue in Jan-Jun $18 bn

Vietnam's export revenue during January-June this year totalled...

Pic: Garrett Souza/Massachusetts Institute of Technology

Textiles | On 21st Jul 2019

MIT, FIT collaborate on advanced fibres and tech

MIT and the Fashion Institute of Technology are working on the...

Pic: Ellen Macarthur Foundation

Apparel/Garments | On 21st Jul 2019

Make Fashion Circular frames guidelines for jeans

The Ellen MacArthur Foundation's Make Fashion Circular initiative has ...

Interviews View All

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Yariv Bustan,

Yariv Bustan

Founded in Israel in 2015, Twine Solutions is a tech start-up that has...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tahweave & Garo, Sweta Tantia

Tahweave & Garo
Sweta Tantia

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

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

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

Leave your Comments


July 2019

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

news category


Related Categories:

Advanced Search