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GCF loan to make Bangla textile sector energy efficient

02
Aug '19
Pic: Shutterstock
Pic: Shutterstock
Bangladesh’s Infrastructure Development Company Limited (IDCOL) will seek a $100-million loan from the Green Climate Fund (GCF), and secure a further $66 million through borrower co-financing to finance energy efficiency initiatives in the country’s textile sector. IDCOL is one of the two local direct access accredited entities empowered to handle GCF money.

Improving energy efficiency in the Bangladesh’s textile industry is considered the key to retaining global competitiveness as well as helping the country to meet its climate change objectives, Bangla media reports cited a company press release as saying.

As part of preparing the funding proposal, a dissemination and stakeholder consultation workshop, titled ‘Impacts of Energy Efficiency on Environment, Social and Gender in Textile Sector of Bangladesh’, was conducted recently in Dhaka. (DS)

Fibre2Fashion News Desk – India


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