The agreement was signed by additional secretary of the Economic Relations Division, Muhammad Alkama Siddiqui, and German ambassador Thomas Prinz under the project 'Financing of Environment and Safety Retrofits in the Bangladesh Ready Made Garments (RMG) sector'.
The funding is expected to ensure effective usage of credit, improve environment standards and promote safety of workers in the RMG sector, the German embassy said in a statement.
The project will help in bridging the knowledge gap in investments and remediation upgrades as well as in the implementation of the investments, added the embassy.
Germany is expected to provide €4 million through KfW and €3 million through GIZ. (KD)
Fibre2Fashion News Desk – India
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